Shares of fintech giant Square (NYSE: SQ) had fallen by more than 4% as of 11:27 a.m. EDT Friday after an analyst at Jefferies said they expect the company to miss earnings estimates in its upcoming quarterly report. When companies report earnings below the consensus estimate, their shares often decline in the short term, although post-report price moves are also dependent on lots of other factors including management's guidance and overall outlook. Further, while Jefferies expects Square to miss on earnings, the company also initiated coverage on Square earlier this month with a $300 price target.
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