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Square Inc (NYSE: SQ) got a price target boost from KeyBanc Capital Markets, premised on strong second-quarter trends.The Square Analyst: Josh Beck maintained an Overweight rating on Square and upped the price target from $125 to $140.The Square Thesis: Square's key metrics such as user growth, engagement and transaction size accelerated in the second quarter, Beck said in a Tuesday note. (See his track record here.)Fueled by the improving user metrics, June witnessed Cash App growth of 130% above April/May levels, indicating a steepening adoption curve, the analyst said. Cash App is a peer-to-peer mobile payment app developed by Square that now offers enhanced functionalities such as receipt of direct deposit payments, ACH payments, and stock and bitcoin trading.The recent momentum, according to the analyst, is tied to government stimulus payments and equity trading."Cash App adoption related to these factors, among others, likely offer monetizable second-order benefits such as Cash Card...
Steel City Capital recently released its Q2 2020 Investor Letter, a copy of which you can download here. During the second quarter of 2020, the fund returned 13.1% net of fees, while the S&P 500 Index was up 20.0%. You should check out Steel City Capital’s top 5 stock picks for investors to buy right […]...
Affected vehicles were built without certain thermal protection components intended to reduce the interior cabin floor and seat attachment temperatures. ...
Could we see a stock market correction if lawmakers don't do the right thing on stimulus amid a still raging COVID-19 pandemic?...
AstraZeneca plc (NYSE: AZN) and the University of Oxford presented good news Monday in the race toward developing a COVID-19 vaccine.Yet AstraZeneca's stock fell, while stocks that are considered to be beneficiaries from the pandemic surged.What Happened: Monday's data from AstraZeneca's vaccine candidate confirmed it is safe for human use, CNBC's Jim Cramer said on "Mad Money."The vaccine also demonstrated a positive immune response that needs to be further tested among less healthy people.All of this is "good news" and something that investors would be "normally happy about," Cramer said.The reality is that hundreds of millions of people, if not billions, will likely want to take a vaccine, Cramer said, adding that this means vaccine makers need to be sure to "get it right" -- and this takes time.Why It's Important: Many investors fail to fully understand the progress of a vaccine, Cramer said. Some are under the false assumption that...
