What happened 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. So what Analysts on average are expecting to hear Square report third-quarter earnings of $0.39 per share on total revenue of $4.57 billion. There is, however, a pretty wide range among the individual predictions, with a low estimate of just $0.02 per share and a high estimate of $0.63 per share. 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. Shares were trading late Friday morning in the neighborhood of $254.30, so that target implies significant upside. Image source: Getty Images. Now what Square has been growing at an extremely fast clip and expectations are clearly sky high. And given that it's not entirely clear how the pandemic's Delta variant surge may have shaken things up for the company in the third quarter, it's possible that it will miss earnings estimates. But if you believe in what Square is building with its payments app and its ecosystem of products and services for merchants, then it should be easy to see that the long-term outlook for the company remains extremely positive. 10 stocks we like better than SquareWhen our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Square wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of October 20, 2021 Bram Berkowitz has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Square. The Motley Fool has a disclosure policy.Source