The following article is authored by BTIG analyst Mark Palmer. He’s got a five star Tipranks rating with the position of 159 out of over 11,000 “experts”. His success rate is 66% with average return of 12.3%.
The article is dated 10/9, but its old news already. This is a follow-on article to one published by the same author a day or two ago (and other dating back about a year ago). The basic thesis of the article is that Square is vulnerable in an economic downturn due to lending risks (both merchant and consumer loans). He bases this on the assertion that Square will have trouble selling its loans during a recession. Palmer came out with his bear thesis last November and set a $30 price target. 37 analysts cover Square, Palmer is one of four with a sell rating.