What Would It Take for Block to Double By 2027?
Block (NYSE: SQ), formerly known as Square, reported gross profit of slightly under $1.6 billion in its third quarter of 2022, which ended Sept. 30. Thats up 38% from the prior-year period. Its two major segments, Square and Cash App, both posted remarkable growth amid the softening macro environment. And the overall performance continues a generally positive historical trend for the business.
As a result of a strong fundamental performance, like what we saw last quarter, this top fintech stock has seen its price soar by more than 350%, as of Dec. 28, since its initial public offering in November 2015, trouncing the Nasdaq Composite Index. And this is after shares have fallen precipitously over the past year and a half.
But what about the future? Is it possible that Block's stock could double by 2027? Let's take a closer look.
Source Fool.com
