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Investing.com — Mobile payments provider Square jumped as much as 6.6% to a record high Monday after analysts raised their price targets for the stock.
Square Inc (NYSE:SQ). is outperforming the market, rising to a record $104.79 after Barclays (LON:BARC) raised its price target to $115 from $90. On June 16, Citigroup (NYSE:C) raised its target price for Square to $95 from $66.
The S&P 500 and Dow Jones Industrial Average indexes were flat Monday as coronavirus cases rise worldwide, while the Nasdaq was slightly higher thanks to its tech-heavy composition.
Square has 15 buy-equivalent ratings, 18 holds and one sell, according to MarketWatch. On June 15, Square announced its purchase of Verse, a Spanish P2P payments app that allows customers to send and receive payments from friends and family free of charge.
