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2021-02-22
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Square Reports Earnings This Week. Why Wall Street Is Pounding The Table.<blockquote>Square 本周公布收益。为什么华尔街正在拍桌子。</blockquote>
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Why Wall Street Is Pounding The Table.<blockquote>Square 本周公布收益。为什么华尔街正在拍桌子。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1179041252","media":"Barrons","summary":"Square is scheduled to report fourth-quarter earnings this week and some analysts are pounding the t","content":"<p>Square is scheduled to report fourth-quarter earnings this week and some analysts are pounding the table on the stock. Literally.</p><p><blockquote>Square 定于本周公布第四季度收益,一些分析师正在对该股进行猛烈抨击。按照字面意义地。</blockquote></p><p> Calling Square (ticker: SQ) her top pick for 2021, Evercore ISI’s Rayna Kumar writes that it is the “most disruptive company in payments and banking.” She reiterated an Outperform rating on Thursday, with a $304 price target. “Disruption pays,” she writes, “pounding [the] table ahead of earnings.”</p><p><blockquote>Evercore ISI 的 Rayna Kumar 称 Square(股票代码:SQ)是她 2021 年的首选,她写道,Square 是 “支付和银行业最具颠覆性的公司”。她周四重申了跑赢大盘的评级,目标价为 304 美元。“她写道:”颠覆是有回报的,“在盈利之前敲打桌子”。</blockquote></p><p> Square was ahead 2% on last Friday and is up 27% this year to recent prices around $280.</p><p><blockquote>Square 上周五上涨 2%,今年上涨 27%,近期价格约为 280 美元。</blockquote></p><p> The payments app is riding a strong growth wave: Its Cash App has become a popular stock trading platform. Retail trading surged during the pandemic, and Cash App may have won over clients from Robinhood after that app briefly restricted trading in GameStop (GME).</p><p><blockquote>支付应用程序正在经历强劲的增长浪潮:其现金应用程序已成为一个受欢迎的股票交易平台。疫情期间零售交易激增,在 Robinhood 短暂限制游戏驿站 (GME) 交易后,Cash App 可能赢得了 Robinhood 的客户。</blockquote></p><p> According to a small survey of Robinhood users by Mizuho Securities, nearly 40% of respondents who switched to other trading apps said they shifted to Cash App, beating other platforms like Stash, Fidelity, or TD Ameritrade (now owned byCharles Schwab).</p><p><blockquote>根据瑞穗证券对 Robinhood 用户的一项小型调查,近 40% 转向其他交易应用程序的受访者表示,他们转向了 Cash App,击败了 Stash、Fidelity 或 TD Ameritrade(现归嘉信理财所有)等其他平台。</blockquote></p><p> Bitcoin’s surging price, recently hitting records around $50,000, is also fueling gains for Cash App; users can buy and trade the cryptocurrency on the app. Square buys the cryptocurrency and resells it to users, taking a cut of transactions. The company posted about $1.6 billion in total Bitcoin revenue in the third quarter, though net revenue, after costs for the currency, was just $32 million.</p><p><blockquote>比特币的价格飙升,最近创下了 5 万美元左右的历史新高,这也推动了 Cash App 的上涨;用户可以在应用程序上购买和交易加密货币。Square 购买加密货币并将其转售给用户,从中分成交易。该公司第三季度比特币总收入约为 16 亿美元,但扣除货币成本后的净收入仅为 3200 万美元。</blockquote></p><p> Kumar expects Square to beat consensus estimates in the fourth quarter of 2020 and throughout 2021. She sees Square posting net revenue of $924 million in the quarter with Ebitda—earnings before interest, tax, depreciation, and amortization—of $160 million, ahead of consensus estimates of $141 million. She sees the firm posting adjusted net revenue of $4.3 billion in 2021, resulting in adjusted Ebitda of $825 million, 24% above consensus estimates.</p><p><blockquote>库马尔预计 Square 将在 2020 年第四季度和 2021 年全年超出市场普遍预期。她预计 Square 本季度净收入为 9.24 亿美元,Ebitda(息税折旧摊销前利润)为 1.6 亿美元,高于市场普遍预期的 1.41 亿美元。她预计该公司 2021 年调整后净收入为 43 亿美元,调整后 Ebitda 为 8.25 亿美元,比市场普遍预期高出 24%。</blockquote></p><p> Cash App may have boosted active users by 56% in January, according to Evercore surveys. The app had 33 million users in the September quarter, and Kumar expects the company to hit 40 million in the fourth quarter.</p><p><blockquote>根据 Evercore 调查,Cash App 1 月份的活跃用户数量可能增加了 56%。该应用程序在9月份季度拥有3300万用户,库马尔预计该公司在第四季度将达到4000万。</blockquote></p><p> Kumar notes that Square is working to integrate Cash App with its Seller App used by merchants to process payments. The company is integrating the ecosystems through new products like Instant Payments from merchants to employees and On-Demand Pay, giving employees a way to quickly access up to $200 per pay period in Cash App.</p><p><blockquote>库马尔指出,Square正在努力将Cash应用程序与其卖家应用程序集成,商家使用该应用程序处理支付。该公司正在通过新产品整合生态系统,如商家向员工的即时支付和按需支付,为员工提供了一种在Cash App中快速获得每个支付周期高达200美元的方法。</blockquote></p><p> Wolfe Research’s Darrin Peller also reiterated a bullish view, maintaining an Outperform rating and $335 target. He expects shares to “grind higher over the next several months,” fueled by Bitcoin, stock trading, and growth trends in Cash App.</p><p><blockquote>Wolfe Research 的 Darrin Peller 也重申了看涨观点,维持跑赢大盘评级和 335 美元的目标价。他预计,在比特币、股票交易和 Cash App 增长趋势的推动下,股价 “将在未来几个月继续走高”。</blockquote></p><p> “Square stands out as a material share gainer across its businesses, solidifying its status as a global leader,” he wrote in a note on Thursday.</p><p><blockquote>“他在周四的一份报告中写道:”Square 在其所有业务中都取得了显著的份额增长,巩固了其全球领导者的地位。</blockquote></p><p> Investors are paying a steep multiple for Square’s growth. The company is expected to earn 76 cents a share in the next 12 months, giving it a price-to-earnings ratio of 370 times.</p><p><blockquote>投资者正在为 Square 的增长付出高昂的倍数。该公司预计未来 12 个月每股收益为 76 美分,市盈率为 370 倍。</blockquote></p><p> Analysts value stocks like Square on a multiple of revenue, but that doesn’t make it much cheaper. Assuming $4.2 billion in net revenue this year, the shares trade at 66 times sales.PayPal Holdings(PYPL), by contrast, fetches 13 times sales.</p><p><blockquote>分析师根据收入倍数对 Square 等股票进行估值,但这并不能让它便宜很多。假设今年净收入为 42 亿美元,股票交易价格为销售额的 66 倍。相比之下,PayPal Holdings (PYPL) 的销售额为销售额的 13 倍。</blockquote></p><p> Valuation is keeping Piper Sandler analyst Christopher Donat on the sidelines. He has kept a Neutral rating on the stock since initiating coverage last July. His current price target is $190.</p><p><blockquote>Piper Sandler 分析师克里斯托弗·多纳特 (Christopher Donat) 对估值持观望态度。自去年 7 月开始报道以来,他一直对该股保持中性评级。他目前的目标价是190美元。</blockquote></p><p> “We’ve had a tough time putting an overweight on it, and it’s even tougher liking the valuation now,” he said. The pace of downloads of Cash App has been slowing, he points out, leading to slower growth of active users. He is also concerned about ongoing sales weakness at small bricks-and-mortar merchants such as restaurants.</p><p><blockquote>“他说:”我们很难给它设定跑赢大盘,现在更难喜欢这个估值。他指出,Cash App的下载速度一直在放缓,导致活跃用户增长放缓。他还担心餐馆等小型实体商家持续的销售疲软。</blockquote></p><p> “I think Square is a great growth story with a long runway but I’m uncomfortable with the valuation,” he said. Square trades at 15 times enterprise value to revenue, compared with 11 times forPayPal Holdings,which is his top pick in payments.</p><p><blockquote>“他说:”我认为 Square 是一个很棒的成长故事,跑道很长,但我对估值感到不舒服。Square 的交易价格为企业价值与收入的 15 倍,而 PayPal Holdings 的交易价格为 11 倍,PayPal Holdings 是他在支付领域的首选。</blockquote></p><p> Square is scheduled to report earnings after the close on Feb. 23. Asked if he plans to raise his rating on the stock, Donat said “never say never …but I might be wrong on this one.”</p><p><blockquote>Square 计划在 2 月 23 日收盘后公布收益。当被问及是否计划提高对该股的评级时,多纳特说:“永远不要说永远.但在这一点上我可能错了”。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Square Reports Earnings This Week. Why Wall Street Is Pounding The Table.<blockquote>Square 本周公布收益。为什么华尔街正在拍桌子。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSquare Reports Earnings This Week. Why Wall Street Is Pounding The Table.<blockquote>Square 本周公布收益。为什么华尔街正在拍桌子。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-02-22 16:50</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Square is scheduled to report fourth-quarter earnings this week and some analysts are pounding the table on the stock. Literally.</p><p><blockquote>Square 定于本周公布第四季度收益,一些分析师正在对该股进行猛烈抨击。按照字面意义地。</blockquote></p><p> Calling Square (ticker: SQ) her top pick for 2021, Evercore ISI’s Rayna Kumar writes that it is the “most disruptive company in payments and banking.” She reiterated an Outperform rating on Thursday, with a $304 price target. “Disruption pays,” she writes, “pounding [the] table ahead of earnings.”</p><p><blockquote>Evercore ISI 的 Rayna Kumar 称 Square(股票代码:SQ)是她 2021 年的首选,她写道,Square 是 “支付和银行业最具颠覆性的公司”。她周四重申了跑赢大盘的评级,目标价为 304 美元。“她写道:”颠覆是有回报的,“在盈利之前敲打桌子”。</blockquote></p><p> Square was ahead 2% on last Friday and is up 27% this year to recent prices around $280.</p><p><blockquote>Square 上周五上涨 2%,今年上涨 27%,近期价格约为 280 美元。</blockquote></p><p> The payments app is riding a strong growth wave: Its Cash App has become a popular stock trading platform. Retail trading surged during the pandemic, and Cash App may have won over clients from Robinhood after that app briefly restricted trading in GameStop (GME).</p><p><blockquote>支付应用程序正在经历强劲的增长浪潮:其现金应用程序已成为一个受欢迎的股票交易平台。疫情期间零售交易激增,在 Robinhood 短暂限制游戏驿站 (GME) 交易后,Cash App 可能赢得了 Robinhood 的客户。</blockquote></p><p> According to a small survey of Robinhood users by Mizuho Securities, nearly 40% of respondents who switched to other trading apps said they shifted to Cash App, beating other platforms like Stash, Fidelity, or TD Ameritrade (now owned byCharles Schwab).</p><p><blockquote>根据瑞穗证券对 Robinhood 用户的一项小型调查,近 40% 转向其他交易应用程序的受访者表示,他们转向了 Cash App,击败了 Stash、Fidelity 或 TD Ameritrade(现归嘉信理财所有)等其他平台。</blockquote></p><p> Bitcoin’s surging price, recently hitting records around $50,000, is also fueling gains for Cash App; users can buy and trade the cryptocurrency on the app. Square buys the cryptocurrency and resells it to users, taking a cut of transactions. The company posted about $1.6 billion in total Bitcoin revenue in the third quarter, though net revenue, after costs for the currency, was just $32 million.</p><p><blockquote>比特币的价格飙升,最近创下了 5 万美元左右的历史新高,这也推动了 Cash App 的上涨;用户可以在应用程序上购买和交易加密货币。Square 购买加密货币并将其转售给用户,从中分成交易。该公司第三季度比特币总收入约为 16 亿美元,但扣除货币成本后的净收入仅为 3200 万美元。</blockquote></p><p> Kumar expects Square to beat consensus estimates in the fourth quarter of 2020 and throughout 2021. She sees Square posting net revenue of $924 million in the quarter with Ebitda—earnings before interest, tax, depreciation, and amortization—of $160 million, ahead of consensus estimates of $141 million. She sees the firm posting adjusted net revenue of $4.3 billion in 2021, resulting in adjusted Ebitda of $825 million, 24% above consensus estimates.</p><p><blockquote>库马尔预计 Square 将在 2020 年第四季度和 2021 年全年超出市场普遍预期。她预计 Square 本季度净收入为 9.24 亿美元,Ebitda(息税折旧摊销前利润)为 1.6 亿美元,高于市场普遍预期的 1.41 亿美元。她预计该公司 2021 年调整后净收入为 43 亿美元,调整后 Ebitda 为 8.25 亿美元,比市场普遍预期高出 24%。</blockquote></p><p> Cash App may have boosted active users by 56% in January, according to Evercore surveys. The app had 33 million users in the September quarter, and Kumar expects the company to hit 40 million in the fourth quarter.</p><p><blockquote>根据 Evercore 调查,Cash App 1 月份的活跃用户数量可能增加了 56%。该应用程序在9月份季度拥有3300万用户,库马尔预计该公司在第四季度将达到4000万。</blockquote></p><p> Kumar notes that Square is working to integrate Cash App with its Seller App used by merchants to process payments. The company is integrating the ecosystems through new products like Instant Payments from merchants to employees and On-Demand Pay, giving employees a way to quickly access up to $200 per pay period in Cash App.</p><p><blockquote>库马尔指出,Square正在努力将Cash应用程序与其卖家应用程序集成,商家使用该应用程序处理支付。该公司正在通过新产品整合生态系统,如商家向员工的即时支付和按需支付,为员工提供了一种在Cash App中快速获得每个支付周期高达200美元的方法。</blockquote></p><p> Wolfe Research’s Darrin Peller also reiterated a bullish view, maintaining an Outperform rating and $335 target. He expects shares to “grind higher over the next several months,” fueled by Bitcoin, stock trading, and growth trends in Cash App.</p><p><blockquote>Wolfe Research 的 Darrin Peller 也重申了看涨观点,维持跑赢大盘评级和 335 美元的目标价。他预计,在比特币、股票交易和 Cash App 增长趋势的推动下,股价 “将在未来几个月继续走高”。</blockquote></p><p> “Square stands out as a material share gainer across its businesses, solidifying its status as a global leader,” he wrote in a note on Thursday.</p><p><blockquote>“他在周四的一份报告中写道:”Square 在其所有业务中都取得了显著的份额增长,巩固了其全球领导者的地位。</blockquote></p><p> Investors are paying a steep multiple for Square’s growth. The company is expected to earn 76 cents a share in the next 12 months, giving it a price-to-earnings ratio of 370 times.</p><p><blockquote>投资者正在为 Square 的增长付出高昂的倍数。该公司预计未来 12 个月每股收益为 76 美分,市盈率为 370 倍。</blockquote></p><p> Analysts value stocks like Square on a multiple of revenue, but that doesn’t make it much cheaper. Assuming $4.2 billion in net revenue this year, the shares trade at 66 times sales.PayPal Holdings(PYPL), by contrast, fetches 13 times sales.</p><p><blockquote>分析师根据收入倍数对 Square 等股票进行估值,但这并不能让它便宜很多。假设今年净收入为 42 亿美元,股票交易价格为销售额的 66 倍。相比之下,PayPal Holdings (PYPL) 的销售额为销售额的 13 倍。</blockquote></p><p> Valuation is keeping Piper Sandler analyst Christopher Donat on the sidelines. He has kept a Neutral rating on the stock since initiating coverage last July. His current price target is $190.</p><p><blockquote>Piper Sandler 分析师克里斯托弗·多纳特 (Christopher Donat) 对估值持观望态度。自去年 7 月开始报道以来,他一直对该股保持中性评级。他目前的目标价是190美元。</blockquote></p><p> “We’ve had a tough time putting an overweight on it, and it’s even tougher liking the valuation now,” he said. The pace of downloads of Cash App has been slowing, he points out, leading to slower growth of active users. He is also concerned about ongoing sales weakness at small bricks-and-mortar merchants such as restaurants.</p><p><blockquote>“他说:”我们很难给它设定跑赢大盘,现在更难喜欢这个估值。他指出,Cash App的下载速度一直在放缓,导致活跃用户增长放缓。他还担心餐馆等小型实体商家持续的销售疲软。</blockquote></p><p> “I think Square is a great growth story with a long runway but I’m uncomfortable with the valuation,” he said. Square trades at 15 times enterprise value to revenue, compared with 11 times forPayPal Holdings,which is his top pick in payments.</p><p><blockquote>“他说:”我认为 Square 是一个很棒的成长故事,跑道很长,但我对估值感到不舒服。Square 的交易价格为企业价值与收入的 15 倍,而 PayPal Holdings 的交易价格为 11 倍,PayPal Holdings 是他在支付领域的首选。</blockquote></p><p> Square is scheduled to report earnings after the close on Feb. 23. Asked if he plans to raise his rating on the stock, Donat said “never say never …but I might be wrong on this one.”</p><p><blockquote>Square 计划在 2 月 23 日收盘后公布收益。当被问及是否计划提高对该股的评级时,多纳特说:“永远不要说永远.但在这一点上我可能错了”。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源:<a href=\"https://www.barrons.com/articles/square-stock-earnings-report-preview-51613757503\">Barrons</a></p>\n<p>为提升您的阅读体验,我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.barrons.com/articles/square-stock-earnings-report-preview-51613757503","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1179041252","content_text":"Square is scheduled to report fourth-quarter earnings this week and some analysts are pounding the table on the stock. Literally.\nCalling Square (ticker: SQ) her top pick for 2021, Evercore ISI’s Rayna Kumar writes that it is the “most disruptive company in payments and banking.” She reiterated an Outperform rating on Thursday, with a $304 price target. “Disruption pays,” she writes, “pounding [the] table ahead of earnings.”\nSquare was ahead 2% on last Friday and is up 27% this year to recent prices around $280.\nThe payments app is riding a strong growth wave: Its Cash App has become a popular stock trading platform. Retail trading surged during the pandemic, and Cash App may have won over clients from Robinhood after that app briefly restricted trading in GameStop (GME).\nAccording to a small survey of Robinhood users by Mizuho Securities, nearly 40% of respondents who switched to other trading apps said they shifted to Cash App, beating other platforms like Stash, Fidelity, or TD Ameritrade (now owned byCharles Schwab).\nBitcoin’s surging price, recently hitting records around $50,000, is also fueling gains for Cash App; users can buy and trade the cryptocurrency on the app. Square buys the cryptocurrency and resells it to users, taking a cut of transactions. The company posted about $1.6 billion in total Bitcoin revenue in the third quarter, though net revenue, after costs for the currency, was just $32 million.\nKumar expects Square to beat consensus estimates in the fourth quarter of 2020 and throughout 2021. She sees Square posting net revenue of $924 million in the quarter with Ebitda—earnings before interest, tax, depreciation, and amortization—of $160 million, ahead of consensus estimates of $141 million. She sees the firm posting adjusted net revenue of $4.3 billion in 2021, resulting in adjusted Ebitda of $825 million, 24% above consensus estimates.\nCash App may have boosted active users by 56% in January, according to Evercore surveys. The app had 33 million users in the September quarter, and Kumar expects the company to hit 40 million in the fourth quarter.\nKumar notes that Square is working to integrate Cash App with its Seller App used by merchants to process payments. The company is integrating the ecosystems through new products like Instant Payments from merchants to employees and On-Demand Pay, giving employees a way to quickly access up to $200 per pay period in Cash App.\nWolfe Research’s Darrin Peller also reiterated a bullish view, maintaining an Outperform rating and $335 target. He expects shares to “grind higher over the next several months,” fueled by Bitcoin, stock trading, and growth trends in Cash App.\n“Square stands out as a material share gainer across its businesses, solidifying its status as a global leader,” he wrote in a note on Thursday.\nInvestors are paying a steep multiple for Square’s growth. The company is expected to earn 76 cents a share in the next 12 months, giving it a price-to-earnings ratio of 370 times.\nAnalysts value stocks like Square on a multiple of revenue, but that doesn’t make it much cheaper. Assuming $4.2 billion in net revenue this year, the shares trade at 66 times sales.PayPal Holdings(PYPL), by contrast, fetches 13 times sales.\nValuation is keeping Piper Sandler analyst Christopher Donat on the sidelines. He has kept a Neutral rating on the stock since initiating coverage last July. His current price target is $190.\n“We’ve had a tough time putting an overweight on it, and it’s even tougher liking the valuation now,” he said. The pace of downloads of Cash App has been slowing, he points out, leading to slower growth of active users. He is also concerned about ongoing sales weakness at small bricks-and-mortar merchants such as restaurants.\n“I think Square is a great growth story with a long runway but I’m uncomfortable with the valuation,” he said. Square trades at 15 times enterprise value to revenue, compared with 11 times forPayPal Holdings,which is his top pick in payments.\nSquare is scheduled to report earnings after the close on Feb. 23. Asked if he plans to raise his rating on the stock, Donat said “never say never …but I might be wrong on this one.”","news_type":1,"symbols_score_info":{"SQ":0.9}},"isVote":1,"tweetType":1,"viewCount":419,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":24,"subscribersOnly":false,"subscribersOnlyAccessible":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/360748797"}
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