Expected to benefit from the transformation of electronic payments, Piper Sandler has given Square Inc. a "buy" rating.

Piper Sandler released a research report, giving American Financial Group, Inc. and the mobile payment company Block (SQ.US) a "buy" rating, citing the company's expected profits from the transition to electronic payments. Analyst Arvind Ramnani wrote in a report to clients, "Piper believes that Block will benefit from the ongoing long-term transition to electronic payments, as well as innovation around its two business segments (focused on merchants/sellers (Square) and consumers (Cash App)." The analyst pointed out that the company has a "strong track record" in innovation, including achievements in establishing a micro-merchant card acceptance business and building a cryptocurrency business. It is worth noting that since Trump won the 2024 US presidential election, Bitcoin has been soaring, reaching historic highs.