Mizuho Securities analyst, Neil Doshi, reiterated his Buy rating on shares of Square (NYSE: SQ) after the company executed on a great quarter in the core business with strength in transaction revenue, solid take rates, and strong hardware sales. Software & Data segment also showed significant improvement with increased demand and new investors joining Square Capital. The analyst reiterated his core thesis: "Square should drive out-sized growth and margins through software over time, and the firm could be a take-out candidate given its unique focus around and traction with SMBs".

No change to the price target of $16.00

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Shares of Square closed at $10.44 yesterday.