74.20 +0.43 (0.58%)
After hours: 8:00PM EDT
|Bid||74.41 x 900|
|Ask||0.00 x 900|
|Day's range||72.75 - 75.90|
|52-week range||31.44 - 101.15|
|Beta (3Y Monthly)||4.34|
|PE ratio (TTM)||N/A|
|Earnings date||7 Nov 2018|
|Forward dividend & yield||N/A (N/A)|
|1y target est||82.24|
The new Fidelity Digital Assets will trade and hold cryptocurrency assets. One asset manager says the move could cement crypto as a new asset class.
Square (SQ) announced earlier this month that it would start extending loans of up to $10,000 consumers as long as they are buying from merchants that use Square products or services. Square’s consumer lending product is called Square Installments. Its launch marks the expansion of the company’s credit business.
GrubHub (GRUB) has struck a deal to acquire campus food-ordering platform Tapingo. Tapingo’s platform is used by food outlets on more than 150 college campuses, and it reaches more than half a million student diners. Students use Tapingo to place food orders in advance, and food outlets such as on-campus cafes and restaurants use the platform to accept advance orders, thereby saving time for both vendors and diners.
Amazon (AMZN) hosts more than 2.0 million sellers on its marketplace, according to FactSet estimates cited by the Wall Street Journal. The company makes money from its sellers by taking a cut of the sales they make through its marketplace. For example, sellers pay to advertise their items on Amazon’s marketplace, and Amazon also earns revenue from processing payments and extending loans to sellers.
PayPal (PYPL) is expected to release its third-quarter results on October 18. While reporting its second-quarter results in July, PayPal provided a yardstick against which its upcoming results could be measured. The company issued a guidance showing that it expected its third-quarter revenue to rise as much as 13% YoY (year-over-year) to $3.62 billion–$3.67 billion. For its bottom line, the company guided for EPS of $0.53–$0.55.
Investors in fintech company Square don't seem to approve of the departure of CFO Sarah Friar, but CEO Jack Dorsey certainly does.
Mobile payment company Square (SQ) has been reporting strong revenues. In the second quarter of fiscal 2018, net revenues of $814.9 billion grew 47.8% YoY (year-over-year), while adjusted revenues of $385.0 million exceeded Wall Street estimates of $376.6 million. Square posted adjusted earnings of $0.13 per share, beating analysts’ estimates of $0.11 in the quarter.
Square CFO Steps Down: Does Stock Seem Attractive Now? The stock of Square (SQ), a mobile payments company, has plunged ~20% in the past two days, as discussed in the previous article, due to the announcement of the departure of its CFO, Sarah Friar. Out of the 36 analysts covering Square, 17 analysts have rated the stock a “buy,” while 17 analysts rated the stock a “hold.” Two of the analysts have given the stock a “sell” rating, which signals that the majority of analysts are positive on the stock despite the CFO’s resignation.
The loss in value was due to the resignation announcement of the company’s chief financial officer (or CFO), Sarah Friar. On Wednesday, Friar declared that she will step down from the payments company and will join the San-Francisco-based social networking firm Nextdoor in December this year as CEO. In fact, according to a Bloomberg report, the departure of Friar could continue to pressure the stock in the coming months, as she was the face of the company and had served the company for six years.
As much as PayPal (PYPL) is in heated competition with Square (SQ), LendingClub (LC), eBay-backed (EBAY) Adyen, and others for payment and loan customers, there comes a time when the company decides to put its foot down and kick out some customers. This happens when PayPal determines that a customer is in violation of its rules and is promoting hate, which is what happened recently in the case of Infowars. Last month, PayPal decided to terminate its business dealings with Infowars, a far-right American media platform run by controversial radio host Alex Jones.
PayPal (PYPL) has come up with a solution to this problem. The company has built a feature called Smart Buttons that lets merchants show customers only the most relevant payment options at the checkout. PayPal’s smart buttons feature also has built-in localization, whereby a shopper in the United Kingdom or Germany can be shown an option to pay with a local service.
PayPal (PYPL) is giving its Venmo business a lot of attention lately. After years of appointing Venmo leaders who have also handled responsibilities for the flagship PayPal service, PayPal has recently changed that by assigning Venmo a dedicated leader, signaling the growing importance of the Venmo business. In August, PayPal appointed Amit Jhawar as the general manager of Venmo.