Here's Why Block Can Be a Long-Term Winner
Block (NYSE: SQ) recently reported 2023 second-quarter financials, posting a gross profit of $1.9 billion, which was up 27% year over year. The company also produced adjusted diluted earnings per share of $0.39. These were better numbers than what Wall Street analysts were looking for, an encouraging sign.
Despite what appeared to be strong results, as of this writing, the fintech stock remains 77% off its all-time high. And it trades at a price-to-sales ratio of under 2, about a third of the average valuation in Block's public history. That's an attractive entry point for investors.
But besides the stock being cheap, there are other reasons Block can be a long-term winner for your portfolio.
Source Fool.com
