1 Magnificent Growth Stock to Buy Before It Soars 550%, According to Cathie Wood's Ark Invest

In September 2020, Cathie Wood's Ark Invest published an open-source valuation model for Block (NYSE: SQ), which is available for download through GitHub. The model outlines a few scenarios, but the base case prices Block at $375 per share in 2025, implying a 550% upside from its current price.

Here's what investors should know.

Block topped expectations on the top and bottom lines in the second quarter, though shares still slipped as much as 14% following the report because Wall Street found guidance disappointing. Total gross profit increased 27% to $1.9 billion on strong results in the Cash App ecosystem, and non-GAAP (non-generally accepted accounting principles) income soared 117% to $0.39 per diluted share. But gross profit growth declined to 21% in July, and management expects growth to hold steady at that level throughout the third quarter.

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Source Fool.com