Block's Stock Crashes Even After Beat-And-Raise Quarter, 5 Analysts Deep Dive Into Print
Portfolio Pulse from Priya Nigam
Shares of Block Inc (NYSE:SQ) fell in early trading on Friday, despite the company's better-than-expected quarterly results. Analysts from Needham, KeyBanc, Susquehanna, Mizuho Securities, and JMP Securities provided their insights on the earnings release, with most maintaining positive ratings and price targets. The stock's decline is likely due to signs of moderating gross payment volume (GPV) and transactional growth in the third and fourth quarter.
August 04, 2023 | 3:51 pm
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Block Inc's stock fell despite better-than-expected Q2 results. Analysts maintain positive ratings but point to moderating GPV and transactional growth as potential concerns.
Despite Block Inc's better-than-expected Q2 results, the stock fell in early trading. This is likely due to concerns over moderating GPV and transactional growth in the third and fourth quarter, as pointed out by analysts. Given the company's performance and the analysts' insights, the stock's price is likely to be negatively impacted in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100