On Wednesday, 17 November 2021, Square (NYSE:SQ) announced the launch of its new App, Square Photo Studio, which will assist in the sales process of businesses. Following the news, shares of the company dipped 2.8%. The stock, however, pared its losses slightly to close at $233.06 in the extended trade.Product images have become critical to online selling success in recent years. Accordingly, recent Square data found that 94% of retail merchants’ first orders included product images.The Square Photo Studio app allows sellers to add beautiful, stylized images to their product pages on-the-go and on their phones, without the time and cost of a professional studio. It will also enable the sellers to directly sync them to a Square item catalog or online store to improve the overall customer experience.Head of eCommerce, David Rusenko at Square:“It’s no secret that products with professional-looking photos perform better than those without. Unfortunately, the cost, skillset, and labor involved with taking those photos were often prohibitive.”QUARTERLY RESULTS AND PRICE TARGETDespite the innovations, it has been a disappointing quarter for Square when compared to its previous quarter. Revenue growth in the last quarter was 143% and in this quarter only 27%, missing their estimates for the quarter.Net income for the quarter was $233 million and adjusted EBITDA up 29%.However, the Wall Street community remains cautiously optimistic about the stock and has a Moderate Buy consensus rating based on 17 Buys, 4 Holds, and 1 Sell.Tigress Financial analyst Ivan Feinseith reiterated a Buy rating on the stock on Wednesday with a price target of $310, which implies an upside potential of 33.7% from current levels. Ivan believes that Square’s recently announced Square Card is also a “significant game-changer” for the company, and its increasing adoption of Cash App for Bitcoin “will continue to be a growth opportunity.”To find out more about stocks, visit MEXEM.