#2 - Square (NYSE:SQ)
Square (NYSE:SQ) is another leader in the fintech sector. In a society where businesses are becoming more mobile, Square allows merchants to accept remote payments for most major credit cards. Square is most easily identified by its signature square-shaped dongle. Merchants insert the dongle into their smartphone or tablet, and they have a way to accept safe, secure credit payments.
And like PayPal, Square is expanding on its base service to meet the needs of its users. It has its own peer-to-peer payment solution, CashApp that is similar to Paypal’s Venmo app.
One of the concerns is that as Square and PayPal begin to offer complementary services, they will begin to cannibalize each other’s businesses. That may be a concern by 2030, but in the short term, there’s plenty of business to go around.
A more clear and present danger for Square is the damage done to small businesses due to the mitigation measures taken due to the Covid-19 pandemic. Mom and pop businesses have been among the hardest hit and most likely not to come back. However, if you’re looking to invest in companies that you can own for the next ten years, then you have to believe that other businesses will open as others close. That makes Square a great option.
About Block
Square, Inc provides payment and point-of-sale solutions in the United States and internationally. The company's commerce ecosystem includes point-of-sale software and hardware that enables sellers to turn mobile and computing devices into payment and point-of-sale solutions. It offers hardware products, including Magstripe reader, which enables swiped transactions of magnetic stripe cards; Contactless and chip reader that accepts EMV® chip cards and Near Field Communication payments; Chip card reader, which accepts EMV® chip cards and enables swiped transactions of magnetic stripe cards; Square Stand, which enables an iPad to be used as a payment terminal or full point of sale solution; and Square Register that combines its hardware, point-of-sale software, and payments technology, as well as managed payments solutions.
Read More - Current Price
- $72.28
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 27 Buy Ratings, 6 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $87.59 (21.2% Upside)
