最有看点的互联网金融门户

最有看点的互联网金融门户
国际资讯基于互联网平台的金融业务

被比作“早期亚马逊或谷歌”,支付平台Square股价大涨

国际资讯基于互联网平台的金融业务

被比作“早期亚马逊或谷歌”,支付平台Square股价大涨

Nomura Instinet称,支付企业Square"好似早期亚马逊或谷歌",但华尔街却错误地估计了其股价。

Square颠覆了支付业,该公司于周五重申了其股票买入评级,并表示 2018年有望获益颇丰。

这家位于旧金山的企业声名鹊起要得益于其金融交易技术,该技术使小型企业使用其软件与硬件产品就可支持信用卡付款。Square还开发了Square Cash,可使个人与企业间完成转账,于PayPal旗下的Venmo类似。

分析师Dan Dolev在致客户的研究报告中写道:"未来十年,在支付类企业不断攀升的股价及薪酬服务与人力资源领域持续创新的推动下,Square与现在或许不可同日而语。估值应涵盖综合多种因素转向,包括大型销售商、不断增加的股价收益、虚拟终端与电商等高价交易渗透率不断提升,以及Square Capital与薪酬服务等高利润服务。"

Dolev补充道,总之,总支付量这一关键行业指标激增,可助力确保Square迎来又一"现象级年度"。

FactSet数据显示,分析师将Square的目标股价上调至64美元,较其周四收盘价上涨59%。周五上午开盘股价又提振4.8%

Dolev认为其华尔街同行并未看到Square的光明前景,原因在于其采用的是"传统估值方法"。分析师Dolev采用的是 方法计算目标股价。

Square股价在过去12个月上涨了173%。

Square在其最新财报中超出华尔街预期。该公司CEO Jack Dorsey向投资者表示Square增长前景强劲。Jack Dorsey还负责了Square的Twitter社媒账号。

Dorsey在财报电话会中说道:"在不断迈向高端市场的过程中,我们了解到越来越多综合买房通常已创立了适用其营商模式的体系,比如电商网站、惯用销售点及库存软件等。利用我司开放平台,开发商可使用Square联结此类体系,亦可使销售方能在同一地点管理各种系统。"

Payment company Square is "analogous to Amazon or Google in their early days" but Wall Street is valuing the stock all wrong, according to Nomura Instinet

The firm reiterated its buy rating on the company's stock on Friday, calling big gains in 2018 as the company disrupts the payments industry.

The San Francisco-based company's climb to fame is a result of its financial transaction technology, enabling small businesses to accept card payments through its software and hardware products. It also developed Square Cash, a means of sending and receiving money between individuals and businesses akin to PayPal's Venmo.

"In 10 years, Square is likely to be a very different company helped by accelerating share gains from payment peers and relentless disruption of services like payroll and HR," analyst Dan Dolev wrote in a note to clients. Valuation should include "mix shift to large sellers, accelerating share gains, growing penetration of higher priced transaction types like virtual terminal and e-commerce, as well as high margin services like Square Capital and payroll."

In all, added Dolev, a surge in gross payment volume - a key industry metric - should help ensure Square has another "phenomenal year."

The analyst's $64 price target represents 59 percent upside from Thursday's close over the next year, the highest target on Wall Street according to FactSet data. Shares rallied 4.8 percent Friday morning.

Dolev believes his peers on Wall Street don't see this bright future for Square because they are using "conventional valuation methodologies." The analyst is using a discounted cash flow model to come up with his target.

Square shares are up 173 percent over the past 12 months.

The company topped Wall Street expectations in its latest earnings report and CEO Jack Dorsey, who also leads social media site Twitter, told investors that Square's growth runway looks strong.

"As we continue to grow up-market, we've learned that more complex sellers often have established systems that they've tailored to their businesses, such as e-commerce websites, custom points of sale, or inventory software," he said during the earnings call. "With our open platform, developers can connect these systems with Square and give sellers the ability to manage them in one place."


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