2020 has seen a market trouncing performance from fintech player Square (SQ). Since hitting the skids in mid-March with the price dropping to $38.09, shares have appreciated by an enormous 285%.The latest uptick came after Square’s Q2 earnings report blew the estimates out of the water. The banking industry disruptor generated revenue of $1.92 billion, indicating year-over-year growth of 64.1% and handily beating consensus by $790 million. Non-GAAP EPS of $0.18 came ahead of the estimates by $0.22.Although gross payment volume – a key metric – declined by 15% from the same period last year to $22.8 billion, the figure still beat the forecasts by 20%.A big chunk of the uptick was driven by Cash App’s low-margin bitcoin trading revenue. Even so, removing the Bitcoin gains, Cash App revenue still increased by a hefty 140% up to $325 million. The peer-to-peer app now has over 30 million active users and accounted for almost half of Square’s gross profit in the quarter.So, great news all around. But considering the stock’s almighty gains so far this year, is it wise to take out a position in Square following the extended run-up?Most certainly, says Rosenblatt analyst Kenneth Hill. In fact, along with reiterating a Buy following the earnings results, the 5-star analyst raised the price target significantly – Hill’s new target is $181, up from the previous $136. Investors will be taking home a 23% gain should the analyst’s thesis play out over the next 12 months. (To watch Hill’s track record, click here)While Square’s Q2 display was impressive, Hill argues the future looks even brighter: “We liked the strength displayed in 2Q as gross profit performance came in much better than we expected. That said, we liked the upgrade to the forward outlook even more. While the better-than-expected July metrics were a clear positive, the biggest takeaways for us were the Cash App engagement metrics and the emphasis on new investment in the business… We see the surge in investment activity as a way to supercharge the long-term growth trends already in place, given healthy payback and ROI metrics historically.”Hill is not alone in his positive prognosis, as several analysts have recently upgraded Square’s rating too. However, there’s a dose of realism to Square’s Moderate Buy consensus rating; along with 11 Buys, there are 15 Holds and 2 Sells. Additionally, the average price target of $113.38 implies shares will drop by 23% in the year ahead. (See Square stock analysis on TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.