Wall Street Analyst Dan Dolev Is Bullish On Jack Dorsey’s Undervalued Square Cash Payment App


It is rare when analysts that are used to watching Wall Street business appreciate crypto-based businesses.

But we’ll take it when it comes. Dan Dolev of Instinet recently had some good words in favor of Jack Dorsey’s Square.

Square markets several software and hardware payments products and has expanded into small business services. The company was founded in 2009 by Jack Dorsey and Jim McKelvey and launched its first app and service in 2010. It has been traded as a public company on the New York Stock Exchange since November 2015 with the ticker symbol SQ.

Dan thinks that the current value of Square stock, which is currently around $74 is a steal and should be worth around $100. This means according to him, the stock is worth 33% lesser than it should be.

Square has had great timing: investors have been eagerly buying payment company stocks, encouraged by the mega-shift toward online commerce and electronic transactions.

Dorsey really thinks that cryptos are the future of finance. Earlier when asked about this topic in an interview with QZ, he said:

“As we bring more people online, we can also imagine a trend in parallel where they all have access to the same currency, and there are still conversions to a local currency like the pound, but being able to have one currency really takes away some of the barriers of the past and how we think about global markets. And having a global currency that is native to the internet will allow companies like ours to move much faster and reach a lot more people.”

On May 1, Square forecast second-quarter earnings per share of 14 cents to 16 cents, below analysts’ average estimate of 18 cents. But it expects revenue in the range of $2.25 billion – $2.28 billion, above its previous forecast of $2.22 billion – $2.25 billion. Square will keep re-investing its profits back into its business.

Its investments in the software will increase its customer base, as changes in its software will heighten the experience of all its customers.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide