Why Block Shares Are Sliding

Loading...
Loading...

Block Inc SQ is trading lower Monday after Wedbush lowered its price target on the stock.

Wedbush analyst Moshe Katri maintained Block with a Neutral rating and lowered the price target from $250 to $190.

Katri cited continued indications of choppy consumer spending, renewed pandemic-driven B&M shutdowns and travel slowdown, as well as likely reduced spending on non-discretionary items as a result of inflationary pricing pressure on staple goods.
The new price target still implies about 14% upside from current levels.

Block provides payment acquiring services to merchants, as well as related services.

Related Link: Why Block Shares Are Trading Lower Premarket?

SQ Price Action: Block has traded as high as $289.23 and as low as $158.38 over a 52-week period.

The stock was down 3.41% at $161.37 at time of publication.

Photo: courtesy of Block.

date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Price TargetAnalyst RatingsMoversTrading Ideaswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...