Credit Suisse Starts Square (SQ) at Neutral

October 19, 2016 6:30 AM EDT
Get Alerts SQ Hot Sheet
Price: $14.64 -0.34%

Rating Summary:
    15 Buy, 12 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 22 | New: 54
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Credit Suisse initiates coverage on Square (NYSE: SQ) with a Neutral rating and a price target of $12.00, saying valuation is full.

Analyst Paul Condra commented, "We are positive on SQ’s growth trajectory and the quality of its offering, but initiate at Neutral owing to a high valuation (41x 2017 EV/EBITDA) and the potential for near-term share dilution from stock options. While the strong growth deserves a premium, we believe investors may find better entry points if the stock is volatile."

For an analyst ratings summary and ratings history on Square click here. For more ratings news on Square click here.

Shares of Square closed at $11.34 yesterday.

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