Square shares rise after Evercore ISI upgrades stock CNBC - 3 years ago
  • Square’s bitcoin testing adds to the company’s innovative reputation and could spell earnings success down the road, according to one Wall Street analyst.
  • Evercore ISI upgraded shares of Square on Thursday, citing the company’s new lineup of payment technology and rapid revenue growth.
  • “Following our meeting Wednesday with CFO Sarah Friar, we are upgrading Square to outperform,” wrote analyst Rayna Kumar in a note to clients.
  • The analyst noted that while it may be a few years before Square sees any effect from the cryptocurrency on earnings, Jack Dorsey’s progressive outlook likely means good things for the company’s bottom line.