Square stock falls after hitting all-time high
Shares of Square Inc. are down 4.5% in Tuesday morning trading, after closing at an all-time high in the prior session. Analysts remain bullish on the stock, including Instinet's Dan Dolev, who reiterated his optimism for Square in a Tuesday note. He argued that gross payment volume could accelerate in 2018 and that a recent deceleration in Square Capital loan volumes shouldn't be cause for concern. Dolev is upbeat about the fact that most large sellers are onboarding themselves to the platform. He has a buy rating on the stock and a $64 price target, the highest among all analysts, according to FactSet. Square's stock is up 193% over the past 12 months, while the S&P 500 is up 14% in that time.
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