Square (SQ) Cash App Downloads For March Accelerate Sequentially - Nomura

Nomura/Instinet analyst, Dan Dolev, reiterated a Buy rating and $105.00 price target on Square (NYSE: SQ) as the Cash App vs. Venmo payments app tracker points to a healthy
pace of downloads in March with +2.2mn downloads bringing the total for 1Q to +6.3mn. These numbers both represent increases from +2.0mn downloads in February and a total of +6.0mn in 4Q.

The analyst stated "The gap between the two apps reached an all-time high in March of nearly 5.2mn. Given a steady ratio of active to total users of ~35%, we now estimate Cash App active users may near +17mn."

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 $74.74 yesterday.

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