This Is What Whales Are Betting On Block
Portfolio Pulse from Benzinga Insights
Whale investors have shown a bearish stance on Block (NYSE:SQ), with options trading indicating a sentiment split of 40% bullish and 60% bearish. Significant trading activity suggests a target price range of $67.5 to $100.0 for Block in the next three months. The company, known for its payment services and Cash App, is currently trading at $78.92, with a neutral RSI and an anticipated earnings release in 28 days. Market experts have issued mixed ratings, with a consensus target price of $85.6.
April 04, 2024 | 4:46 pm
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NEUTRAL IMPACT
Whale investors' bearish stance and significant options trading activity suggest a volatile short-term outlook for Block, with a price target range of $67.5 to $100. Analyst ratings vary, indicating uncertainty.
The bearish stance by whale investors, indicated by a higher volume of bearish options trades, suggests potential downward pressure on SQ's stock price in the short term. However, the presence of bullish trades and mixed analyst ratings introduces uncertainty, making the short-term impact neutral but with high relevance due to direct involvement of SQ's stock and significant trading activity.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100