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Square SQ launched the Square Photo Studio app globally to expand its reach to online businesses.
Sellers can take advantage of the app to take high-quality, stylish photos of their products from a mobile device and add them to a Square item catalog or online store.
In addition to the sellers registered with Square, anyone who wants to sell a product can easily take a stylized photo of a product and sell with a Square Online Checkout link.
With the help of the Square Photo Studio app, sellers can improve the customer experience without using a professional photo studio, saving their time and money.
The recent move is expected to boost the company’s momentum among sellers around the world. This, in turn, will strengthen the activities of the SQ on a global scale.
We believe Square’s growing global presence will continue to earn investor confidence.
Notably, Squarehas returned 6.6% on an annual basis versus the industry’s 6.5% decline.
Image source: Zacks Investment Research
Expansion of the portfolio
The latest move bodes well for the SQ’s growing efforts to strengthen its product and service offerings globally.
In addition to the recent move, Square worked with STATION F to provide various information, expertise, payment solutions and development tools to entrepreneurs in France.
SQ has introduced integrated omnichannel solutions in France and Ireland to help merchants seamlessly manage their business operations amid the pandemic.
She also launched Square Invoices Plus in the US, UK, Canada, Ireland, Japan, and Australia to help businesses organize their billing requirements, get faster payments, and earn more. clients.
Square made Cash App Pay available to its sellers across the United States via a software update. Using the app, sellers can accept payments made by customers using their Cash App account, either by scanning the QR code at checkout or by clicking a button on their mobile devices.
Apart from that, the company has deployed Square for Restaurants in Canada with the aim of helping restaurant owners run their businesses smoothly amid the coronavirus pandemic.
The SQ has also deployed the Early Access program in Spain, France and Ireland. Square provides businesses with an integrated set of omnichannel tools to easily sell their products and services.
Additionally, SQ has made its kitchen display software available to all kinds of restaurants in the US, UK, Canada, Australia and Ireland. The software helps restaurants track online orders and delivery partners.
Zacks rank and actions to consider
Currently, Square carries a Zacks Rank # 3 (Hold).
Investors interested in the wider tech sector may want to consider higher-ranked stocks like ON Semiconductor TO, Advanced micro-systems AMD and Mimecast limited MIME. While ON Semiconductor currently sports a Zacks Rank # 1 (strong buy), Advanced Micro Devices and Mimecast have a Zacks Rank # 2 (buy). You can see The full list of today’s Zacks # 1 Rank stocks here.
ON Semiconductor has gained 90.6% year-to-date. The long-term profit growth rate for ON is currently projected at 53.9%.
Advanced Micro Devices has gained 65% year-to-date. AMD’s long-term profit growth rate is currently projected at 46.2%.
Mimecast has gained 48.7% year-to-date. MIME’s long-term profit growth rate is currently projected at 35%.
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