SQ - Rosenblatt names Square PayPal as top payment stocks on their digital wallets

Rosenblatt analyst Sean Horgan names Square ([[SQ]] +2.0%) and PayPal ([[PYPL]] +1.0%) as his top picks, primarily for their digital offerings.Sees 30%+ upside potential for each compared with their April 19 closing prices.SQ's Cash App continues to "leverage its valuable monetization playbook" while PYPL's renewed focus on Venmo uses a similar strategy — bringing in new customers by offering new products like crypto trading, credit card, etc."We see Cash App continuing to acquire customers at low CAC (customer acquisition cost) and monetizing them quickly," Horgan writes; expects Q1 Cash App's monthly active users to top the Street's ~34M.For PYPL, Horgan expects Venmo will exceed the $900M 2021 revenue target due to QTD spending trends.For merchant acquirers, Horgan prefers Buy-rated Fiserv (FISV) as a beneficiary with the most upside in the group.Rosenblatt's Horgan sees more room to run (30%+) for both Square and PayPal, which have climbed 302% and 140%, respectively,

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Rosenblatt names Square, PayPal as top payment stocks on their digital wallets