The Ratings Game: Square stock falls on weak outlook, questions about payment-volume growth [MarketWatch]
Block, Inc. Class A, (SQ)
Last block, inc. class a, earnings: 2/26 04:05 pm
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Source: MarketWatch
Square stock falls on weak outlook, questions about payment-volume growth Square Inc. investors may have to adjust to a new reality. Shares of the payments company SQ, -8.08% were down more than 8% in Thursday afternoon trading after Square beat on its financial metrics but delivered a disappointing outlook for the current period. The latest outlook, and Square’s selloff, has Bernstein analyst Harshita Rawat wondering whether the stock can “work without meaningful positive revisions,” or the sort of upbeat forecasts that helped drive shares higher in recent quarters. The underwhelming outlook, partly driven by weaker performance within Square’s main business of payment processing, is just one of the key controversies from the company’s latest report, according to Rawat. Another is the slowdown in payment-volume growth, which came in at 26.7% in the March quarter, down from 28.3% in the December period and 29.6% in all of 2018. “Even though [gross payment volume] has been decelerati
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- Block, Inc. (NYSE: SQ) had its "positive" rating re-affirmed by analysts at Susquehanna. They now have a $100.00 price target on the stock.MarketBeat
SQ
Earnings
- 2/22/24 - Beat
SQ
Sec Filings
- 4/15/24 - Form 8-K
- 4/4/24 - Form 4
- 4/4/24 - Form 4
- SQ's page on the SEC website