Square, Inc. SQ has announced the appointment of Amrita Ahuja as its new chief financial officer (CFO). Ahuja will resume her duties later this month.
Ahuja is replacing the company’s previous CFO, Sarah Friar, who announced her resignation in October to become the chief executive officer of the social media network, Nextdoor. She will be reporting directly to Square’s chief executive officer, Jack Dorsey.
Backed by her experience in the areas of finance, operations, and interactive software products and entertainment content, Ahuja will be responsible for the company’s growth.
Notably, Ahuja has been working with the video game publisher, Activision Blizzard, for over eight years in a number of finance and strategic roles across the company. Currently, she is the CFO of Blizzard Entertainment. Prior to Activision Blizzard, Ahuja held various roles at Fox Networks Group, the Walt Disney Company and Morgan Stanley.
With her vast knowhow and expertise, we expect Ahuja’s expert guidance to aid the company in scaling new heights.
Growth Prospects
Square is leaving no stone unturned to expand its presence in the digital payment solutions space. It is well poised to cater to the growing demand for payments processing and mobile-commerce services among small businesses on a worldwide basis, thanks to its expanding product and services portfolio.
The company’s focus on delivering a better payment experience for sellers and customers, on the back of innovative financial services, is expected to continue aiding its market position in the global digital payment space.
Additionally, Square’s seller-friendly ecosystem, which enables sellers to combine software, hardware and payments services in order to accept payment from customers through its wide range of online payment products, is a major catalyst.
All these factors are likely to drive the company’s performance in the to-be-reported quarter. It will likely report fourth-quarter earnings on Feb 26.
Zacks Rank & Stocks to Consider
Square currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader technology sector include TripAdvisor, Inc. TRIP, Groupon, Inc. GRPN and Wayfair Inc. W. While TripAdvisor sports a Zacks Rank #1 (Strong Buy), both Groupon and Wayfair carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth rate for TripAdvisor, Groupon and Wayfair is currently pegged at 14.1%, 3% and 18%, respectively.
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