Square (SQ) Model Dive Confirms Momentum - Citi

Citi analyst Peter Christiansen reiterated a Buy rating and $90.00 price target on Square (NYSE: SQ) after reviewing his model pre earnings and taking a deeper look into Eventprite. The result is that he believes adjusted revenue is likely to be $160 million or 7% above the high-end of Square’s current outlook.

The analyst stated "For 2019, our Payback Model suggests that Square will post adjusted revenue of $2.44 billion, roughly $160 million or 7% above the high-end of Square’s current 2019 outlook of $2.28 billion. Our 2019 output assumes a moderate increase in new cohort payback from 3.3 quarters to 3.4 quarters, but maintains a 113% revenue retention rate. Recall, Square outperformed its initial 2018 growth outlook by a whopping ~21 points organically (55% vs. 34%)".

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 $80.19 yesterday.

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