These Analysts Cut Their Forecasts On Block After Q3 Results
Portfolio Pulse from Lisa Levin
Block, Inc. (NYSE:SQ) reported better-than-expected Q3 earnings, with revenue increasing 24% YoY to $5.62 billion. Excluding Bitcoin revenues, total revenue was $3.19 billion, up 16% YoY. The company reported Q3 adjusted earnings of 55 cents per share. Following the earnings announcement, Canaccord Genuity and Goldman Sachs cut their price targets on Block, but maintained a Buy rating.
November 03, 2023 | 4:45 pm
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Block, Inc. reported better-than-expected Q3 earnings, leading to a 12.3% gain in share price. However, Canaccord Genuity and Goldman Sachs cut their price targets on the company, potentially indicating a future slowdown.
Block's strong Q3 earnings led to a significant increase in its share price. However, the decision by Canaccord Genuity and Goldman Sachs to cut their price targets on the company, despite maintaining a Buy rating, could indicate concerns about the company's future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100