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These Analysts Cut Their Forecasts On Block After Q3 Results

Published 03/11/2023, 16:45
Updated 03/11/2023, 18:10
© Reuters.  These Analysts Cut Their Forecasts On Block After Q3 Results
SQ
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Benzinga - by Lisa Levin, Benzinga Editor.

Block, Inc. (NYSE: SQ) reported better-than-expected third-quarter earnings on Thursday.

Block said third-quarter revenue increased 24% year-over-year to $5.62 billion, versus the consensus estimate of $5.441 billion. Excluding Bitcoin revenues, total revenue was $3.19 billion, up 16% year-over-year. The company reported third-quarter adjusted earnings of 55 cents per share versus estimates of 47 cents per share.

Block shares gained 12.3% to trade at $49.39 on Friday.

These analysts made changes to their price targets on Block following earnings announcement.

  • Canaccord Genuity cut the price target on Block from $90 to $80. Canaccord Genuity analyst Joseph Vafi maintained a Buy rating.
  • Goldman Sachs slashed the price target on Block from $110 to $95. Goldman Sachs analyst Michael Ng maintained a Buy rating.
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Latest Ratings for SQ

DateFirmActionFromTo
Mar 2022MizuhoMaintainsBuy
Feb 2022DA DavidsonMaintainsBuy
Feb 2022BMO CapitalUpgradesMarket PerformOutperform
View More Analyst Ratings for SQ

View the Latest Analyst Ratings

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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