What happened Square's share price (NYSE: SQ) rose 11.6% in February, according to data from S&P Global Market Intelligence. The fintech stock gained ground thanks to strong fourth-quarter results that allowed the company to defy market pressures brought on by the novel coronavirus officially known as SARS-CoV-2. SQ data by YCharts Square reported fourth-quarter earnings after the market closed on Feb. 26, and its results for the period came in significantly above the market's expectations. The company posted non-GAAP (adjusted) earnings per share of $0.23 on sales of $1.31 billion, coming in ahead of the average analyst target for per-share earnings of $0.21. Excluding the contribution from the Caviar food-delivery business that was recently sold off, Square recorded revenue of $620.7 million -- up 46% year over year and topping the average analyst target by roughly $27 million. Image source: Getty Images. So what Square's big fourth-quarter beat was propelled by strong performance for its Cash app. The company's total payment-processing volume for the period came in at $28.6 billion, significantly ahead of the market's call for payment-processing volume of $28.1 billion. Revenue for the Cash app climbed 147% year over year to reach $361 million, and the service closed out the December quarter with 24 million monthly active users -- up 60% year over year. Now what Despite the strong quarterly report in February, Square shares have tumbled this month as sell-offs prompted by cratering crude-oil prices and concerns about the novel coronavirus have rocked the broader market. The fintech company's shares are down roughly 21% in March so far. SQ data by YCharts The payment-processing market has a long runway for expansion, and Square's strong position in the space suggests that it has plenty of potential to turn its network advantage into a long-term earnings-growth catalyst. However, the company's growth-dependent valuation suggests that more near-term sell-offs are likely on the way if volatility for the broader market continues. Square is valued at roughly 73 times this year's expected earnings and 4.8 times expected sales. 10 stocks we like better than SquareWhen investing geniuses David and Tom Gardner have 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.* David and Tom 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 December 1, 2019 Keith Noonan has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Square and recommends the following options: short March 2020 $70 puts on Square. The Motley Fool has a disclosure policy.Source