What's Going On With Block Shares Today?
Portfolio Pulse from Erica Kollmann
Block, Inc. (NYSE:SQ) shares are trading higher as Affirm Holdings, Inc. (NASDAQ:AFRM) reports strong quarterly results, boosting sentiment in the Buy Now, Pay Later sector. Affirm's revenue grew nearly 50% year-over-year, and it provided upbeat guidance. UBS analyst Rayna Kumar maintained a Buy rating on Block but lowered the price target from $100 to $92. Block shares are up 5.24% at $68.07.
August 29, 2024 | 3:58 pm
News sentiment analysis
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POSITIVE IMPACT
Affirm's stock surges after reporting better-than-expected earnings with a 50% revenue growth year-over-year and issuing strong guidance.
Affirm's strong earnings report and guidance significantly boost its stock, indicating robust growth and positive market sentiment.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Block shares are trading higher due to positive sentiment in the Buy Now, Pay Later sector following Affirm's strong earnings. UBS maintained a Buy rating but lowered the price target to $92.
Block's stock is positively impacted by Affirm's strong earnings, which boosts sentiment in the BNPL sector. Despite a lowered price target by UBS, the Buy rating suggests confidence in Block's potential upside.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80