Why Block Shares Are Falling Today

Block Inc SQ shares are trading lower after Keybanc maintained an Overweight rating on the stock but lowered its price target from $300 to $225.

KeyBanc says the new price target for Block better reflects current market conditions.

See Also: Why JPMorgan Shares Are Sliding Today

Block provides payment acquiring services to merchants, along with related services. The company also launched Cash App, a person-to-person payment network. Block has operations in Canada, Japan, Australia, and the United Kingdom; about 5% of revenue is generated outside the U.S.

Block has a 52-week high of $289.23 and a 52-week low of $131.17.