Square ( SQ Quick Quote SQ - Free Report) continues to make strong efforts to bolster its product portfolio in a bid to deliver an enhanced customer experience. This is evident from the latest move of making its kitchen display system software called Square KDS generally available for restaurants of all sizes. Notably, the new software is designed to add accuracy and efficiency to the operations of restaurants. Square KDS is well-equipped to improvise ticket times, and enhance front and back of house communications of restaurants. Most importantly, the software helps these restaurants to managea high volume of orders from one central locationno matter whether they’re placed from Square Online site, or online ordering platforms like DoorDash and Postmates or a restaurant’s point-of-sale. The latest move expands the company’s restaurant product portfolio, which will help it in serving its restaurant sellers well. Move Holds Promise
We note thatuseful features of Square KDS are likely to bolster its adoption rate by driving the company’s momentum among restaurants.
Apart from the above-mentioned benefits, the software enables restaurants to gain detailed insights about their business with the help of ticket timers, which manages the dinner rush efficiently, and kitchen performance reports that give a clear picture of time taken to complete orders. Further, Square KDS allows restaurants to manage kitchen flow on a real-time basis by enrooting specific items to different stations seamlessly. Also, it offers the customization of ticket layouts. We believe all these are likely to be of great help for restaurants during the ongoing pandemic, which has created uncertainties in their business environment. Increasing shelter-in-place food orders and in-store pickups during the pandemic can be managed more efficiently with the aid of Square KDS. Wrapping Up
Undoubtedly, the latest move has fortified the company’s key offerings for restaurant sellers.
Its continued focus toward the innovation of its product portfolio has been playing a significant role in shaping its growth trajectory. Apart from Square KDS, the company recently made Terminal API generally available. Notably, Terminal API is its advanced developer tool that allows the connection of Square Terminal with developers’ POS, ERP or practice management system. We believe that expanding key offerings will help Square to attract more sellers to its platform,which, in turn, will bolster its seller base. This is crucial for the company’s financial performance. Moreover, the growing momentum across the seller ecosystem is expected to continue contributing well to top-line growth of Square in the near term. Zacks Rank & Stocks to Consider
Currently, Square carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are Digital Turbine, Inc. ( APPS Quick Quote APPS - Free Report) , Covetrus, Inc. ( CVET Quick Quote CVET - Free Report) and Teradyne, Inc. ( TER Quick Quote TER - Free Report) . All the three stocks carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here. Long-term earnings growth rate for Digital Turbine, Covetrus and Teradyne is currently pegged at 50%, 20.1% and 16.74%, respectively. 5 Stocks Set to Double
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