“ith Cash App now driving the majority of Square’s valuation, the path forward for Cash App has significant implications for the stock,” wrote MoffettNathanson’s Lisa Ellis, even though she said it’s admittedly difficult to predict the track of a business that’s been helped by sharp “bursts of growth” over the years.Įllis seemed upbeat about the Cash App’s prospects, noting that the company still has “a long runway” to grow users and the revenue it derives from them. Read: Square says bitcoin demand slowed in Q3 but picked back up in October earnings weigh on stock
