Block's Stock Is Valued Near Its All-Time Low. Is It Time to Buy?
Of all the trends in the stock market, fintech may be the most unloved right now. Two fintech darlings, Block (NYSE: SQ) (formerly known as Square) and PayPal, have had horrendous years, even if their businesses are doing alright.
Because the market isn't in touch with how these companies are doing, the fintech space looks like an attractive area to invest in. Read on to find out why Block looks attractive now and if the stock is right for you.
Block changed its name from Square to indicate to investors that it wasn't just a two-sided business made up of its Cash App and Square payment processing business. Now, it's also heavily involved with Bitcoin, which gives the business a third dimension. Because the company buys Bitcoin for its investors on the Cash App and sells it when asked, this transaction shows up as revenue on the income statement. As a result, management wants users to focus more on gross profit, as it provides a more accurate picture of how the business is doing.
Source Fool.com
Square Inc. Stock
Square Inc. is currently one of the favorites of our community with 6 Buy predictions and no Sell predictions.
With a target price of 85 € there is a hugely positive potential of 60.44% for Square Inc. compared to the current price of 52.98 €.
