Block Reports Mixed Q3, Analysts Consider Preliminary 2025 Outlook As Aggressive
Shares of Block Inc (NYSE:SQ) tumbled in early trading on Friday, after the company reported mixed third-quarter results.
The company reported its results amid an exciting earnings season. Here are some key analyst takeaways.
- Needham analyst Mayank Tandon maintained a Buy rating, while raising the price target from $80 to $90.
- JPMorgan analyst Tien-tsin Huang reiterated an Overweight rating and price target of $90.
- Stephens analyst Charles Nabhan reaffirmed an Overweight rating and price target of $90.
- Oppenheimer analyst Rayna Kumar maintained a Perform rating on the stock.
Check out other analyst stock ratings.
Needham: Block’s GPV (gross payment volume) came in at $62.5 billion, up 4% year-on-year, but missed consensus of $64.33 billion consensus, while gross profit of $2.25 billion, beat consensus of $2.24 billion, Tandon said. Although GPV weakness weighed on transaction revenues, “healthy margins and operating leverage fueled better profitability,” he added.
The company raised its full-year guidance due to better third-quarter results, but its fourth-quarter outlook was “lighter than expected on both gross profit and EBITDA,” the analyst stated. “We believe the softer 4Q guide reflects persistent …
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