SQ Stock Forecast: Mobile banking and microloans are challenging traditional banks
This SQ Stock Forecast article was written by Joshua Geller – Financial Analyst intern I Know First.
Highlights:
- The IKF Algorithm predicts that Square Inc.'s stock is bullish for the next year with a signal of 514.09. The company is predicted to rise due to the release of its new products and launch of a microloan business that is taking on financial institutions, a positive quarterly report and a clear price action resistance breakthrough
- Square’s stock price has increased by 72.7% within the past year, compared to 34.37% for the S&P 500 and 24.9% for the US IT Software-Infrastructure industry
- On August 1st, Square announced its acquisition of Afterpay Limited (ASX: APT) for $29 billion USD
- The company released its new products: Square checking, savings and loans which are targeted towards small businesses and consumers as new ways to rely upon mobile financial technology
- Square has recently realized positive earnings within 2020 and is predicted to increase its earnings by 36% over the next year
