What's Going On With Block Shares Today?

Block, Inc. SQ shares are trading higher Thursday as peer "Buy Now, Pay Later" company Affirm Holdings, Inc.'s AFRM stock surges following better-than-expected quarterly results. 

Block offers Buy Now, Pay Later (BNPL) services through Afterpay which the company acquired in 2022. Affirm’s earnings and upbeat guidance may be lifting sentiment in the sector.

The Details:

Affirm beat analyst expectations on the top and bottom lines with quarterly revenue growing nearly 50% year-over-year. The company also issued guidance well-above Street estimates for the first-quarter. 

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UBS analyst Rayna Kumar maintained Block with a Buy, but lowered the price target on the stock from $100 to $92 on Thursday. 

Will SQ Stock Go Up?

When trying to assess whether or not Block will trade higher from current levels, it's a good idea to take a look at analyst forecasts.

Wall Street analysts have an average 12-month price target of $87 on Block. The Street high target is currently at $100 and the Street low target is $55. Of all the analysts covering Block, 10 have positive ratings, one has a neutral rating and one has a negative rating.

In the last month, 7 analysts have adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering Block have performed in recent history.

Stocks don't move in a straight line. The average stock market return is approximately 10% per year. Block is 5.82% down year-to-date. The average analyst price target suggests the stock could have further upside ahead.

For a broad overview of everything you need to know about Block, visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.

SQ Price Action: According to Benzinga Pro, Block shares are up 5.24% at $68.07 at the time of publication Thursday.

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