Block's Bullish Stance With Cost-Savvy Moves Spark Analysts' Confidence In 2026 'Rule Of 40' Goal
Portfolio Pulse from Priya Nigam
Shares of Block Inc (NYSE:SQ) spiked following its Q3 earnings report. Analysts from Canaccord Genuity, Needham, Truist Securities, Goldman Sachs, Raymond James, and Oppenheimer provided their takeaways. Most analysts maintained a Buy rating, while some reduced their price targets. The company's commitment to cost efficiency, healthy financial targets, and the potential for growth were highlighted. Block's management aims to achieve the 'Rule of 40' by 2026, balancing growth and profitability.
November 03, 2023 | 3:02 pm
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Block Inc's Q3 earnings report has led to a spike in its shares. Analysts maintain a positive outlook, despite some reducing their price targets. The company's cost efficiency and growth potential are seen as strong points, with a goal to achieve the 'Rule of 40' by 2026.
The positive analyst ratings, despite some reduced price targets, indicate confidence in Block Inc's future performance. The company's commitment to cost efficiency and growth, along with its 'Rule of 40' goal, are likely to positively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100