What Do Analyst Expect From Earnings of Fintech Stocks Block and Marqeta

  • The general tone from the payments/banking reports "held the line" of a constructive consumer bias in what KeyBanc analyst Josh Beck saw as more of a "rear-view" lens as the next potential catalyst likely linked to improved macro/out-year model clarity. 
  • For Block, Inc SQ (Price Target: $80), his Key First Look data across Square, Cash App, and Afterpay is generally consistent with his model, modestly below the Street. 
  • Cash App held its leadership in app downloads as Afterpay improved sequentially. 
  • He continued to see Block as uniquely positioned to be a leader as the FinTech industry evolved, followed by a focus on software enablement transitioning into a third phase via facilitating connections among a two-sided consumer (Cash App, Afterpay) and merchant (Square, Afterpay) network. 
  • For Marqeta, Inc MQ (PT: $11), his Key First Look data indicated a deceleration across both BNPL (Affirm Holdings, Inc AFRM, Klarna, Afterpay) and ODD (DoorDash, Inc DASH, Instacart, Uber Technologies, Inc UBER UberEats) categories, broadly consistent with his model. 
  • Price Action: SQ shares traded higher by 2.45% at $77.92 on the last check Monday.
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