Square (SQ) PT Raised to $85 at Mizuho Securities

Mizuho Securities analyst Thomas McCrohan raised the price target on Square (NYSE: SQ) to $85.00 (from $75.00) while maintaining a Buy rating following the company's 4Q earnings report. From 2016 to 2018 Square’s organic adjusted net revenues grew 120%, or by $826 million. Subscription and Services contributed $387 million to this growth, or 47% of the total organic adjusted revenue growth.

Adjusted revenue guidance for FY19 was introduced at $2.220-$2.250 billion (40-42% YoY), slightly below current FY19 consensus of $2.253 billion but in line with commentary from the 3Q earnings call for FY19 adjusted revenue growth of +40%.

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