A combination of growth in users and average revenue per user could help Square increase its Cash App gross profit at a 30% compound annual rate through fiscal 2025.Įllis has a buy rating and $340 price target on Square’s stock.īernstein analyst Harshita Rawat began her note to clients by remarking that the “dreaded Cash App deceleration is here.” But she too saw ample growth levers, including Square’s recent expansion of the product to include parent-authorized teen users as well as the launch of Cash App Pay, which lets users make purchases at Square sellers using the mobile wallet. “ith Cash App now driving the majority of Square’s valuation, the path forward for Cash App has significant implications for the stock,” wrote MoffettNathanson’s Lisa Ellis, even though she said it’s admittedly difficult to predict the track of a business that’s been helped by sharp “bursts of growth” over the years.Įllis seemed upbeat about the Cash App’s prospects, noting that the company still has “a long runway” to grow users and the revenue it derives from them. Read: Square says bitcoin demand slowed in Q3 but picked back up in October earnings weigh on stock
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