Square (SQ) Could Become the Digital JP Morgan - Mizuho Securities

Mizuho Securities analyst Dan Dolev reiterated a Buy rating and $380.00 price target on Square (NYSE: SQ) on the belief that Cash App products have a visible growth path to $150-200 ARPU, 3-5x above current levels.

The analyst stated "our analysis shows Cash App's ARPU can reach $150-200, which is 3-5x above current levels. For perspective, this is still well below consumer banking ARPUs at the likes of JPM, WFC, and Charles Schwab, where we estimate ARPUs can range anywhere from $400-700." He went on to state "We believe Cash App may be en route to becoming the ultimate neo-bank and the money center bank of the future. This could make buying SQ analogous to buying J.P. Morgan in 1871."

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 $239.00 yesterday.

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