Disgruntled Robinhood Trader Survey Shows Square (SQ) Winning From Migrations - Mizuho Securities

Mizuho Securities analyst Dan Dolev reiterated a Buy rating and $300.00 price target on Square (NYSE: SQ) after conducting a survey of 80 Robinhood retail stock traders and learning that Cash App benefited most from last week's drama surrounding trading restrictions. Nearly 40% of the survey respondents who switched to other retail trading apps said they shifted to SQ's Cash App, exceeding users leaving for other retail trading apps like Stash, Fidelity, or TD Ameritrade.

The analyst stated "Nearly 75% of those who reported transitioning from trading with Robinhood to trading with Cash App are also interested in Cash App's other products such as Bitcoin and Cash Card. This helps boost our thesis that adding features is accretive to overall user engagement."

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 $219.00 yesterday.

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