Últimas noticias sobre Block (NYSE:SQ) Bolsa

Block

Founded in 2009, Block provides payment services to merchants, along with related services. The company also launched Cash App, a person-to-person payment network. In 2023, Square's payment volume was a little over $200 million.

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Financial giants have made a conspicuous bearish move on Block. Our analysis of options history for Block (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>) revealed 15 unusual trades.
Delving into the details, we found 40% of traders were bullish, while 46% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $92,180, and 12 were calls, valued at $1,227,460.
<h3>Expected Price Movements</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $70.0 to $125.0 for Block over the last 3 months. 
<h3>Volume &amp; Open Interest Development</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Block's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Block's substantial trades, within a strike price spectrum from $70.0 to $125.0 over the preceding 30 days.
<h3>Block Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1731607256_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SQ</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$13.65</td>
<td>$13.45</td>
<td>$13.45</td>
<td>$72.50</td>
<td>$402.1K</td>
<td>2.3K</td>
<td>306</td>
</tr>
<tr>
<td>SQ</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$2.36</td>
<td>$2.25</td>
<td>$2.36</td>
<td>$90.00</td>
<td>$202.4K</td>
<td>3.7K</td>
<td>1.1K</td>
</tr>
<tr>
<td>SQ</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>11/22/24</td>
<td>$0.27</td>
<td>$0.23</td>
<td>$0.25</td>
<td>$93.00</td>
<td>$160.6K</td>
<td>7.3K</td>
<td>6.7K</td>
</tr>
<tr>
<td>SQ</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/15/27</td>
<td>$13.55</td>
<td>$13.45</td>
<td>$13.55</td>
<td>$125.00</td>
<td>$135.5K</td>
<td>341</td>
<td>111</td>
</tr>
<tr>
<td>SQ</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$15.5</td>
<td>$15.25</td>
<td>$15.35</td>
<td>$70.00</td>
<td>$75.1K</td>
<td>2.7K</td>
<td>51</td>
</tr>
</tbody>
</table>

<h3>About Block</h3>
Founded in 2009, Block provides payment services to merchants, along with related services. The company also launched Cash App, a person-to-person payment network. In 2023, Square's payment volume was a little over $200 million.
In light of the recent options history for Block, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Block's Current Market Status</h3>
<ul>
<li>Currently trading with a volume of 5,295,109, the SQ's price is down by -2.13%, now at $83.99. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 98 days.</li>
</ul>
<h3>Professional Analyst Ratings for Block</h3>
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $92.2.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Consistent in their evaluation, an analyst from Needham keeps a Buy rating on Block with a target price of $90. 
&#x2A; An analyst from RBC Capital downgraded its action to Outperform with a price target of $88. 
&#x2A; Maintaining their stance, an analyst from Canaccord Genuity continues to hold a Buy rating for Block, targeting a price of $120. 
&#x2A; In a cautious move, an analyst from Piper Sandler downgraded its rating to Overweight, setting a price target of $83. 
&#x2A; An analyst from Keefe, Bruyette &amp; Woods has decided to maintain their Market Perform rating on Block, which currently sits at a price target of $80. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Block with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

Markets

Decoding Block's Options Activity: What's the Big Picture?

Shares of Block Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>), led by Jack Dorsey, closed up 4.62% on Tuesday, gaining over 16% in the past five days as Piper Sandler&#8216;s Managing Director and Senior Research Analyst Arvind Ramnani initiated coverage with an &#8220;overweight&#8221; rating and set a price target of $83 per share. 
Block shares on Tuesday outperformed their benchmark indices, as the NYSE Composite closed 0.81% lower and the Russell 2000 dropped 1.77% on the same day.
What Happened: Ramnani&#8217;s investor note highlights Block&#8217;s skill in launching new ventures, including its cryptocurrency business, and penetrating large fintech markets, TipRanks <a href="https://www.tipranks.com/news/the-fly/block-assumed-with-an-overweight-at-piper-sandler-2">reported</a>. The analyst estimates a $130 billion total addressable market for Block&#8217;s Square payments business and a $75 billion market for its Cash App payment app.
Also read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41833692/jack-dorsey-reaffirms-blocks-bitcoin-centric-vision-to-boost-digital-wallet-mining-businesses-companys-btc-stash-grows-by-15m-in-q3" target="_blank" rel="noreferrer noopener">Jack Dorsey Reaffirms Block's Bitcoin-Centric Vision To Boost Digital Wallet, Mining Businesses— Company's BTC Stash Grows By $15M In Q3</a>
Why It Matters: The coverage was initiated after <a href="https://www.benzinga.com/news/earnings/earnings-beats/24/11/41852746/block-reports-mixed-q3-analysts-consider-preliminary-2025-outlook-as-aggressive">Block reported its third-quarter financials</a> last week after Thursday's market close. The results were mixed with an EPS beat but a miss on revenues, however, Dorsey&#8217;s commentary was positive.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41833692/jack-dorsey-reaffirms-blocks-bitcoin-centric-vision-to-boost-digital-wallet-mining-businesses-companys-btc-stash-grows-by-15m-in-q3">Jack Dorsey stated</a> that Block's Bitcoin-centric strategy was driven by the desire to establish a native currency for the Internet, which would accelerate their business. Apart from the "Cash App" digital wallet service, the co-founder expressed confidence in Bitcoin's ability to boost its mining chip offerings.
"If we have a native currency for the Internet, it means we can move money much faster, and we can offer Cash App products and Square products in every single market instead of the market-by-market push that we have to do today," Dorsey emphasized.
Price Action: The shares of Block Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>) were down 1.57% in trade during pre-market hours on Wednesday as per <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data. The relative strength index at 55.59 shows that the stock is neither overbought or oversold.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="270" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13050228/Block-Inc--1024x270.png" alt="" class="wp-image-644841" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13050228/Block-Inc--1024x270.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13050228/Block-Inc--300x79.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13050228/Block-Inc--768x203.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13050228/Block-Inc--1536x405.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13050228/Block-Inc-.png 1743w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
The consensus estimates of all the analysts tracking the stock, as per <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>, is a &#8220;buy&#8221;. Following are a few analysts&#8217; views covered by <a href="https://www.benzinga.com/news/earnings/earnings-beats/24/11/41852746/block-reports-mixed-q3-analysts-consider-preliminary-2025-outlook-as-aggressive">Benzinga</a><a href="https://www.benzinga.com/news/earnings/earnings-beats/24/11/41852746/block-reports-mixed-q3-analysts-consider-preliminary-2025-outlook-as-aggressive">.</a><a href="https://www.benzinga.com/news/earnings/earnings-beats/24/11/41852746/block-reports-mixed-q3-analysts-consider-preliminary-2025-outlook-as-aggressive">com</a>.
<ul>
<li>Needham <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/60216a57879cba00010f246b/david-williams" target="_blank" rel="noreferrer noopener">analyst Mayank Tandon</a> maintained a Buy rating while raising the price target from $80 to $90.</li>
<li>JPMorgan&nbsp;<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58f777c10bd99100018a435e/tien-tsin-huang" target="_blank" rel="noreferrer noopener">analyst Tien-tsin Huang</a>&nbsp;reiterated an Overweight rating and price target of $90.</li>
<li>Stephens&nbsp;<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/624d5d9d72b50e0001afdf24/charles-nabhan" target="_blank" rel="noreferrer noopener">analyst Charles Nabhan</a>&nbsp;reaffirmed an Overweight rating and price target of $90.</li>
<li>Oppenheimer&nbsp;<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58d3cdb8b85e930001808a5c/rayna-kumar" target="_blank" rel="noreferrer noopener">analyst Rayna Kumar</a>&nbsp;maintained a Perform rating on the stock.</li>
</ul>
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="615" height="403" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13050246/analyst-trend.png" alt="" class="wp-image-644842" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13050246/analyst-trend.png 615w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13050246/analyst-trend-300x197.png 300w" sizes="(max-width: 615px) 100vw, 615px" /></figure>
<ul>
<li>Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41825733/could-micas-passport-system-open-doors-across-europe-for-crypto-exchanges" target="_blank" rel="noreferrer noopener">Could MiCA's Passport System Open Doors Across Europe For Crypto Exchanges?</a></li>
</ul>
Photo by Frederic Legrand &#8211; COMEO on Shutterstock

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Market-Moving Exclusives

Analyst Ratings

Jack Dorsey's Block Shares Rally As Piper Sandler Initiates Coverage With 'Overweight' Rating: Here's What Other Analysts Are Saying

WIIM

Block shares are trading higher after Canaccord Genuity maintained a Buy rating on the stock and raised its price target from $95 to $120.

Canaccord Genuity analyst Joseph Vafi maintains Block (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>) with a Buy and raises the price target from $95 to $120.

News

Canaccord Genuity Maintains Buy on Block, Raises Price Target to $120

Whales with a lot of money to spend have taken a noticeably bullish stance on Block.
Looking at options history for Block (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>) we detected 85 trades.
If we consider the specifics of each trade, it is accurate to state that 44% of the investors opened trades with bullish expectations and 30% with bearish.
From the overall spotted trades, 10 are puts, for a total amount of $617,402 and 75, calls, for a total amount of $5,245,810.
<h3>Projected Price Targets</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $42.5 to $100.0 for Block over the last 3 months. 
<h3>Insights into Volume &amp; Open Interest</h3>
In today's trading context, the average open interest for options of Block stands at 2436.8, with a total volume reaching 102,815.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Block, situated within the strike price corridor from $42.5 to $100.0, throughout the last 30 days.
<h3>Block Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1731350819_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SQ</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$0.37</td>
<td>$0.33</td>
<td>$0.28</td>
<td>$91.00</td>
<td>$431.6K</td>
<td>179</td>
<td>13.3K</td>
</tr>
<tr>
<td>SQ</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$10.3</td>
<td>$10.2</td>
<td>$10.27</td>
<td>$75.00</td>
<td>$203.8K</td>
<td>5.0K</td>
<td>1.7K</td>
</tr>
<tr>
<td>SQ</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$8.0</td>
<td>$7.85</td>
<td>$7.85</td>
<td>$80.00</td>
<td>$137.3K</td>
<td>8.2K</td>
<td>1.7K</td>
</tr>
<tr>
<td>SQ</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$2.6</td>
<td>$2.5</td>
<td>$2.55</td>
<td>$95.00</td>
<td>$127.5K</td>
<td>3.0K</td>
<td>1.2K</td>
</tr>
<tr>
<td>SQ</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/19/25</td>
<td>$23.0</td>
<td>$23.0</td>
<td>$23.0</td>
<td>$70.00</td>
<td>$115.0K</td>
<td>914</td>
<td>68</td>
</tr>
</tbody>
</table>

<h3>About Block</h3>
Founded in 2009, Block provides payment services to merchants, along with related services. The company also launched Cash App, a person-to-person payment network. In 2023, Square's payment volume was a little over $200 million.
After a thorough review of the options trading surrounding Block, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Current Position of Block</h3>
<ul>
<li>With a trading volume of 14,452,974, the price of SQ is up by 1.39%, reaching $75.6.</li>
<li>Current RSI values indicate that the stock is may be overbought.</li>
<li>Next earnings report is scheduled for 101 days from now.</li>
</ul>
<h3>Expert Opinions on Block</h3>
4 market experts have recently issued ratings for this stock, with a consensus target price of $85.25.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Piper Sandler has revised its rating downward to Overweight, adjusting the price target to $83. 
&#x2A; Maintaining their stance, an analyst from Needham continues to hold a Buy rating for Block, targeting a price of $90. 
&#x2A; Reflecting concerns, an analyst from RBC Capital lowers its rating to Outperform with a new price target of $88. 
&#x2A; Consistent in their evaluation, an analyst from Keefe, Bruyette &amp; Woods keeps a Market Perform rating on Block with a target price of $80. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Block with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Block Unusual Options Activity

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Below are some instances of options activity happening in the Financials sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>HOOD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$35.00</td>
<td>$57.7K</td>
<td>10.9K</td>
<td>16.2K</td>
</tr>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$320.00</td>
<td>$69.6K</td>
<td>1.2K</td>
<td>9.9K</td>
</tr>
<tr>
<td>ABR</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$12.50</td>
<td>$37.0K</td>
<td>39.7K</td>
<td>2.0K</td>
</tr>
<tr>
<td>SQ</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$87.50</td>
<td>$47.0K</td>
<td>3.0K</td>
<td>771</td>
</tr>
<tr>
<td>BAC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$46.00</td>
<td>$186.0K</td>
<td>2.9K</td>
<td>609</td>
</tr>
<tr>
<td>PYPL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/13/24</td>
<td>$78.00</td>
<td>$56.4K</td>
<td>695</td>
<td>465</td>
</tr>
<tr>
<td>UPST</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$77.00</td>
<td>$36.7K</td>
<td>0</td>
<td>462</td>
</tr>
<tr>
<td>SOFI</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$5.00</td>
<td>$48.0K</td>
<td>20.4K</td>
<td>426</td>
</tr>
<tr>
<td>RKT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$17.00</td>
<td>$37.0K</td>
<td>441</td>
<td>211</td>
</tr>
<tr>
<td>FUTU</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$155.00</td>
<td>$68.8K</td>
<td>12</td>
<td>84</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• For HOOD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), we notice a call option sweep that happens to be bearish, expiring in 4 day(s) on November 15, 2024. This event was a transfer of 759 contract(s) at a $35.00 strike. This particular call needed to be split into 44 different trades to become filled. The total cost received by the writing party (or parties) was $57.7K, with a price of $76.0 per contract. There were 10923 open contracts at this strike prior to today, and today 16242 contract(s) were bought and sold. 
• For COIN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), we notice a call option sweep that happens to be bullish, expiring in 4 day(s) on November 15, 2024. This event was a transfer of 40 contract(s) at a $320.00 strike. This particular call needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $69.6K, with a price of $1740.0 per contract. There were 1284 open contracts at this strike prior to today, and today 9905 contract(s) were bought and sold. 
• Regarding ABR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABR#NYSE">ABR</a>), we observe a put option sweep with bullish sentiment. It expires in 67 day(s) on January 17, 2025. Parties traded 1852 contract(s) at a $12.50 strike. This particular put needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $37.0K, with a price of $20.0 per contract. There were 39769 open contracts at this strike prior to today, and today 2021 contract(s) were bought and sold. 
• Regarding SQ (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>), we observe a call option sweep with bearish sentiment. It expires in 67 day(s) on January 17, 2025. Parties traded 107 contract(s) at a $87.50 strike. This particular call needed to be split into 17 different trades to become filled. The total cost received by the writing party (or parties) was $47.0K, with a price of $440.0 per contract. There were 3011 open contracts at this strike prior to today, and today 771 contract(s) were bought and sold. 
• For BAC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), we notice a call option sweep that happens to be bullish, expiring in 130 day(s) on March 21, 2025. This event was a transfer of 600 contract(s) at a $46.00 strike. This particular call needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $186.0K, with a price of $310.0 per contract. There were 2961 open contracts at this strike prior to today, and today 609 contract(s) were bought and sold. 
• For PYPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), we notice a call option sweep that happens to be bearish, expiring in 32 day(s) on December 13, 2024. This event was a transfer of 60 contract(s) at a $78.00 strike. This particular call needed to be split into 10 different trades to become filled. The total cost received by the writing party (or parties) was $56.4K, with a price of $982.0 per contract. There were 695 open contracts at this strike prior to today, and today 465 contract(s) were bought and sold. 
• For UPST (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPST#NASDAQ">UPST</a>), we notice a put option sweep that happens to be bearish, expiring in 4 day(s) on November 15, 2024. This event was a transfer of 150 contract(s) at a $77.00 strike. This particular put needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $36.7K, with a price of $245.0 per contract. There were 0 open contracts at this strike prior to today, and today 462 contract(s) were bought and sold. 
• For SOFI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>), we notice a call option trade that happens to be bullish, expiring in 431 day(s) on January 16, 2026. This event was a transfer of 50 contract(s) at a $5.00 strike. The total cost received by the writing party (or parties) was $48.0K, with a price of $960.0 per contract. There were 20467 open contracts at this strike prior to today, and today 426 contract(s) were bought and sold. 
• For RKT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RKT#NYSE">RKT</a>), we notice a call option trade that happens to be bullish, expiring in 130 day(s) on March 21, 2025. This event was a transfer of 200 contract(s) at a $17.00 strike. The total cost received by the writing party (or parties) was $37.0K, with a price of $185.0 per contract. There were 441 open contracts at this strike prior to today, and today 211 contract(s) were bought and sold. 
• Regarding FUTU (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FUTU#NASDAQ">FUTU</a>), we observe a call option trade with bullish sentiment. It expires in 221 day(s) on June 20, 2025. Parties traded 83 contract(s) at a $155.00 strike. The total cost received by the writing party (or parties) was $68.8K, with a price of $830.0 per contract. There were 12 open contracts at this strike prior to today, and today 84 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

FUTU

PYPL

SOFI

UPST

10 Financials Stocks With Whale Alerts In Today's Session

Block shares are trading higher after Piepr Sandler issued an Overweight rating on the stock and announced a price target of $83.

Piper Sandler analyst Arvind Ramnani assumes Block (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>) with a Overweight rating and announces Price Target of $83.

Initiation

Piper Sandler Assumes Block at Overweight, Announces Price Target of $83

Employees at Block, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>), the fintech company led by&nbsp;Jack Dorsey, have been reportedly directed&nbsp;not to discuss board member&nbsp;and rapper Shawn Carter, better known as&nbsp;Jay-Z.
What Happened: Block employees were given &#8220;stern warnings&#8221; by management against mentioning Jay-Z on internal company&nbsp;forums. The rationale behind this directive is yet to be clarified, <a href="https://fortune.com/2024/11/07/block-jack-dorsey-jay-z-layoffs/">reported</a> Fortune, citing three employees.
The directive to avoid mentioning Carter was given last month.
This occurred around the same time when some employees began questioning Carter&#8217;s position on Block&#8217;s board.
This was due to the rapper&#8217;s long-standing friendship with rapper and entrepreneur Sean "Diddy" Combs, who is currently in prison awaiting trial on serious charges.
After issuing the warning about discussing Carter, Dorsey conducted a virtual all-hands meeting, during which he reportedly disabled the option&nbsp;for employees to ask questions&nbsp;anonymously.
See Also: <a href="https://www.benzinga.com/news/24/09/40893054/mark-cuban-says-he-would-buy-rupert-murdochs-fox-news-and-elon-musks-x-but-there-are-some-obstacles?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Says He Would Buy Rupert Murdoch&#8217;s Fox News And Elon Musk&#8217;s X But There Are Some Obstacles</a>
<a href="https://www.benzinga.com/news/24/10/41646193/block-ceo-jack-dorsey-announces-another-round-of-layoffs-at-tidal">Block laid off several employees</a> from music streaming service Tidal&#8217;s staff last week, with more cuts anticipated across other Block entities, including Square and CashApp.
Layoffs also took place at Square and TBD, Block&#8217;s developer platform, which is now slated for closure, the report noted.
Why It Matters: In 2021, CEO Dorsey's Block secured a controlling interest in the Tidal, which Carter owned. Dorsey and Carter are reported to have a close personal friendship.
In the same year, Dorsey and Jay-Z launched a Bitcoin-focused <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41114650/if-you-invested-1000-in-bitcoin-when-jack-dorsey-and-rapper-jay-z-establish-a-bitcoin-non-">non-profit aimed at advancing</a> the cryptocurrency, with an initial focus on Africa and India.
They contributed 500 BTC to support the initiative. At the time, Bitcoin was priced at $47,504, so a $1,000 investment would have bought 0.021 BTC.
The directive against discussing Carter comes at a time when Block is facing significant challenges. The company&#8217;s shares took a hit after <a href="https://www.benzinga.com/news/earnings/24/11/41826457/block-shares-sink-after-mixed-q3-results-eps-beat-revenues-miss">mixed third-quarter results</a> reported after Thursday&#8217;s closing bell.
Block reported quarterly earnings of 88 cents per share, surpassing the analyst consensus of 87 cents.
However, its quarterly revenue totaled $5.97 billion, falling short of the expected $6.24 billion, though it represents an increase from $5.617 billion in sales during the same period last year.
Price Action: Block&#8217;s shares closed Friday's trading down 0.94% at $74.56. In after-hours trading, the stock dropped further, reaching $74 at the time of writing, according to&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/11/41799239/amazons-andy-jassy-says-i-hate-bureaucracy-as-he-plans-to-slash-managerial-layers-the-goal-again-is?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amazon&#8217;s Andy Jassy Says &#8216;I Hate Bureaucracy&#8217; As He Plans To Slash Managerial Layers: &#8216;The Goal Again Is… To Move More Quickly&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Tech

Media

General

Jack Dorsey's Block Gave Employees 'Stern Warnings' To Not Talk About Jay-Z Amid Layoffs: Report

The S&amp;P 500 index surged past the 6,000-point milestone, setting fresh record highs, and small-cap stocks are poised for their best weekly performance since April 2024 as investor optimism surrounding the &#8220;Trump trade&#8221; continued to fuel a strong risk-on sentiment by the end of a <a href="https://www.benzinga.com/markets">wild week in the market</a>. 
All major U.S. indices posted modest gains in midday trading, with the Dow Jones Industrial Average leading slightly, soaring beyond the 44,000-point mark. The blue-chip index is set for its best weekly performance in over a year.
Friday's rise in the S&amp;P 500 was powered by the utilities and real estate sectors, which had lagged post-election. Tech stocks took a breather following Thursday's rally.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) surged 7%, pushing its weekly gains beyond 27% and propelling its market cap past $1 trillion. 
This move now places every "Magnificent Seven" tech stock in the trillion-dollar club, with the group's combined market cap topping $17 trillion.
Treasury yields held steady, while the dollar strengthened in response to the Federal Reserve's Thursday 25-basis-point rate <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41823887/powell-dismisses-talk-of-resignation-after-trump-victory-says-policy-is-still-res">cut to 4.5%-4.75%</a>.
Gold softened, eyeing its worst week since late May, as both silver and oil dropped over 2% on the day. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) edged up 0.8%, extending its weekly gains to over 11%, marking its best week since July.
<h3 class="wp-block-heading">Friday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>43,993.21</td>
<td>0.6%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,998.81</td>
<td>0.4%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,389.50</td>
<td>0.3%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>21,124.53</td>
<td>0.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:05 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent110824&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.4% to $598.17.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 0.6% to $439.89.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) inched 0.1% higher to $514.10.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.3% to $237.08.</li>
<li>The Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) outperformed, rising 1.8%. The Materials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>) lagged, down 1%.</li>
</ul>
<h3 class="wp-block-heading">Friday&#8217;s Stock Movers</h3>
Stocks reacting to earnings reports were: 
<ul>
<li>NRG Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>), up 0.5%, </li>
<li>Ubiquiti Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UI#NYSE">UI</a>), up 21%</li>
<li>Arista Networks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NASDAQ">ANET</a>), down 7%, </li>
<li>Airbnb Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NASDAQ">ABNB</a>), down 7.5%, </li>
<li>Motorola Solutions Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSI#NYSE">MSI</a>), up 6.7%, </li>
<li>EOG Resources Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>), up 5.9%, </li>
<li>Fortinet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>), up over 9%, </li>
<li>The Trade Desk Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>), down over 4%, </li>
<li>Monster Beverage Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNST#NASDAQ">MNST</a>), up by 0.5%, </li>
<li>Axon Enterprise Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXON#NASDAQ">AXON</a>), up 25%, </li>
<li>Block Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>), down 4.4%, </li>
<li>Cloudfare Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>), down 6.2%, </li>
<li>Corpay Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPAY#NYSE">CPAY</a>), up 6%, </li>
<li>Expedia Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NYSE">EXPE</a>), up over 6%, </li>
<li>Toast Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOST#NYSE">TOST</a>), up 13%, </li>
<li>Pinterest Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>), down 17%, </li>
<li>DraftKings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>), up 1.7%, </li>
<li>Insulet Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PODD#NASDAQ">PODD</a>), up 12%, </li>
<li>News Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWS#NASDAQ">NWS</a>), up 3.6%, </li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41848568/us-consumer-sentiment-rises-more-than-predicted-to-6-month-highs-inflation-expectations-hit-4-year-low">US Consumer Sentiment Rises More Than Predicted To 6-Month Highs, Inflation Expectations Hit 4-Year Low</a></li>
</ul>
Illustration created using artificial intelligence via Midjourney.

Sector ETFs

Movers

ETFs

$BTC

ABNB

ANET

AXON

CPAY

SPDR Dow Jones Industrial Average ETF Trust

DKNG

EXPE

FTNT

MNST

PINS

PODD

TOST

TSLA

S&P 500 Breaks 6,000 Points, Dow Soars Above 44,000, Small Caps Eye Strongest Week In 4 Years, Tesla Hits $1 Trillion: What's Driving Markets Friday?

Shares of Block Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>) tumbled in early trading on Friday, after the company reported <a href="https://www.benzinga.com/news/earnings/24/11/41826457/block-shares-sink-after-mixed-q3-results-eps-beat-revenues-miss">mixed third-quarter results</a>.
The company reported its results amid an <a href="https://www.benzinga.com/earnings">exciting earnings season</a>. Here are some key analyst takeaways.
<ul>
<li>Needham <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/60216a57879cba00010f246b/david-williams">analyst Mayank Tandon</a> maintained a Buy rating, while raising the price target from $80 to $90.</li>
<li>JPMorgan <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58f777c10bd99100018a435e/tien-tsin-huang">analyst Tien-tsin Huang</a> reiterated an Overweight rating and price target of $90.</li>
<li>Stephens <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/624d5d9d72b50e0001afdf24/charles-nabhan">analyst Charles Nabhan</a> reaffirmed an Overweight rating and price target of $90.</li>
<li>Oppenheimer <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58d3cdb8b85e930001808a5c/rayna-kumar">analyst Rayna Kumar</a> maintained a Perform rating on the stock.</li>
</ul>
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
Needham: Block's GPV (gross payment volume) came in at $62.5 billion, up 4% year-on-year, but missed consensus of $64.33 billion consensus, while gross profit of $2.25 billion, beat consensus of $2.24 billion, Tandon said. Although GPV weakness weighed on transaction revenues, "healthy margins and operating leverage fueled better profitability," he added.
The company raised its full-year guidance due to better third-quarter results, but its fourth-quarter outlook was "lighter than expected on both gross profit and EBITDA," the analyst stated. "We believe the softer 4Q guide reflects persistent pressure on Seller GPV growth and higher than expected investments in sales and marketing," he further wrote.
JPMorgan: Block's quarterly results were "solid," but the negative surprise was a reduction in the fourth-quarter guidance, Huang said. Management's preliminary 2025 outlook of at least 15% growth in gross profit "assumes acceleration through the year inclusive of improving Square GPV growth, a critical watch item for investors given underperformance vs. peers and the market," he added.
"With this guide, the execution bar has been set higher for next year," the analyst wrote. While gross profit growth decelerated through the year in 2024, Block will need to "accelerate from a +14% exit rate in FY24, putting its various product, GTM and organizational initiatives to the test for it to achieve similar upside as it has this year," he further wrote.
Stephens: Block's third-quarter beat was driven by expense control, Nabhan said. Cash App's gross profit grew by 21% year-on-year, while Square's gross profit rose 16%, with GPV decelerating to 7.6% year-on-year, from 8% in the second quarter, he added.
The company raised its full-year adjusted operating income by $120 million, which reflected the third-quarter beat, the analyst stated. "Given GP growth/adj op margin of 18%, the outlook equates to 36% on a rule of 40 basis, vs. 35% prior," he further wrote.
Oppenheimer: Block's adjusted EBITDA grew 69% to $807 million and beat consensus of $707 million, but total GPV rose by only 2%, missing Street&#8217;s 5% estimate, Kumar said. Cash App's GPV contracted by 40%, versus Street&#8217;s estimate of a 9% decline, while Square's GPV growth of 8% came in-line with expectations, he added.
Investor concerns around the company's slowing top-line growth "were evident in results," the analyst stated. Block seems well-positioned for continued market share gains, but upside potential is limited by its "relatively high exposure to discretionary consumer spend, small businesses and the non-affluent demographic," he further wrote.
Price Action: Shares of Block had declined by 5.52% to $71.08 at the time of publication on Friday.
Read More: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41833692/jack-dorsey-reaffirms-blocks-bitcoin-centric-vision-to-boost-digital-wallet-mining-businesses-companys-btc-stash-grows-by-15m-in-q3">Jack Dorsey Reaffirms Block&#8217;s Bitcoin-Centric Vision To Boost Digital Wallet, Mining Businesses— Company&#8217;s BTC Stash Grows By $15M In Q3</a></li>
</ul>
Image: Shutterstock

Analyst Color

Earnings Beats

Reiteration

Trading Ideas

Block Reports Mixed Q3, Analysts Consider Preliminary 2025 Outlook As Aggressive

Keefe, Bruyette &amp; Woods analyst Vasundhara Govil maintains Block (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>) with a Market Perform and raises the price target from $71 to $80.

Keefe, Bruyette & Woods Maintains Market Perform on Block, Raises Price Target to $80

Throughout the last three months, 5 analysts have evaluated Block (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>), offering a diverse set of opinions from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">2</td>
<td align="right">2</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $86.4, a high estimate of $92.00, and a low estimate of $70.00. This current average represents a 4.27% decrease from the previous average price target of $90.25. 
<img src="https://www.benzinga.com/files/images/story/2024/1731074459_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
A comprehensive examination of how financial experts perceive Block is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Mayank Tandon</td>
<td>Needham</td>
<td>Raises</td>
<td>Buy</td>
<td>$90.00</td>
<td>$80.00</td>
</tr>
<tr>
<td>Daniel Perlin</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$88.00</td>
<td>$88.00</td>
</tr>
<tr>
<td>Rufus Hone</td>
<td>BMO Capital</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$92.00</td>
<td>$93.00</td>
</tr>
<tr>
<td>Soomit Datta</td>
<td>New Street Research</td>
<td>Announces</td>
<td>Neutral</td>
<td>$70.00</td>
<td>-</td>
</tr>
<tr>
<td>Rayna Kumar</td>
<td>UBS</td>
<td>Lowers</td>
<td>Buy</td>
<td>$92.00</td>
<td>$100.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Block. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Block compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Block's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Block's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/SQ/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Block analyst ratings.</a>
<h2>All You Need to Know About Block</h2>
Founded in 2009, Block provides payment services to merchants, along with related services. The company also launched Cash App, a person-to-person payment network. In 2023, Square's payment volume was a little over $200 million.
<h3>Block: Delving into Financials</h3>
Market Capitalization Analysis: Positioned below industry benchmarks, the company's market capitalization faces constraints in size. This could be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: Block's revenue growth over a period of 3 months has been noteworthy. As of 30 June, 2024, the company achieved a revenue growth rate of approximately 11.21%. This indicates a substantial increase in the company's top-line earnings. When compared to others in the Financials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Block's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of 3.17%, the company may face hurdles in effective cost management.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of 1.02%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of 0.53%, the company may need to address challenges in generating satisfactory returns from its assets.
Debt Management: Block's debt-to-equity ratio is below the industry average. With a ratio of 0.38, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<h2>Analyst Ratings: What Are They?</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

What 5 Analyst Ratings Have To Say About Block

Block shares are trading lower after the company reported worse-than-expected Q3 revenue results.

Needham analyst Mayank Tandon maintains Block (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>) with a Buy and raises the price target from $80 to $90.

Needham Maintains Buy on Block, Raises Price Target to $90

Block Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>) CEO Jack Dorsey reiterated the company&#8217;s exclusive focus on Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), intending to make the cryptocurrency the centerpiece of its financial services operations.
What Happened: During the company&#8217;s third-quarter earnings calls on Thursday, Dorsey stated that Block&#8217;s Bitcoin-centric strategy was driven by the desire to establish a native currency for the internet, which would accelerate their business.
&#8220;If we have a native currency for the Internet, it means we can move money much faster, and we can offer Cash App products and Square products in every single market instead of the market-by-market push that we have to do today,&#8221; Dorsey emphasized.
Apart from the &#8220;Cash App&#8221; digital wallet service, the co-founder expressed confidence in Bitcoin&#8217;s ability to boost its mining chip offerings.
&#8220;Mining is, we think, going to be pretty large for us because we&#8217;ve been developing ASICs for quite some time. There&#8217;s a specialized version of an ASIC,&#8221; Dosey said, implying that more deals, such a<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39721727/jack-dorseys-block-makes-historic-bitcoin-mining-chip-sale-to-core-scientific-our-first-mi">s the historic sale of 3 nanometer (3nm) mining ASICs</a> to leading miner Core Scientific, could follow in the future.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41825733/could-micas-passport-system-open-doors-across-europe-for-crypto-exchanges">Could MiCA&#8217;s Passport System Open Doors Across Europe For Crypto Exchanges?</a>
Why It Matters: Block <a href="https://www.benzinga.com/news/earnings/24/11/41826457/block-shares-sink-after-mixed-q3-results-eps-beat-revenues-miss">reported its third-quarter financials</a> after Thursday&#8217;s market close, showing mixed results with an EPS beat but a miss on revenues. 
The company reported holding 8,363 BTCs on its balance sheet at the end of the third quarter, worth nearly $530 million, a significant increase from 8,211 BTCs reported in the previous quarter. This amounted to an addition worth $15 million to the Bitcoin portfolio.
Block announced a new strategy beginning April 2024, wherein it would allocate 10% of its monthly Bitcoin-related gross profit to purchase more Bitcoins. The company described it as an attempt to minimize the impact on the market, usually seen after large, one-off purchases.
Price Action: Shares of Block were down 1.62% in after-hours trading, after falling 3.18% to $2.47 during Thursday&#8217;s regular trading session, as per <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. 
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41832783/detroit-becomes-first-major-us-city-to-accept-taxes-and-fees-in-crypto-mayor-says-fosterin">Detroit Becomes First Major US City To Accept Taxes And Fees In Crypto; Mayor Says, &#8216;Fostering a Technology-Friendly Environment&#8217;</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

Jack Dorsey Reaffirms Block's Bitcoin-Centric Vision To Boost Digital Wallet, Mining Businesses— Company's BTC Stash Grows By $15M In Q3

The Federal Reserve cut interest rates by 0.25 percentage points on Thursday, bringing the federal funds rate to 4.5%-4.75%, its lowest since February 2023. The Fed&#8217;s statement acknowledged solid economic growth and easing inflation but omitted prior language on confidence in reaching the 2% inflation target.
On Thursday, the Dow Jones Industrial Average was flat at 43,729.34 and the S&amp;P 500 rose 0.7% to 5,973.10 while the Nasdaq spiked 1.5% to 19,269.46.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Rivian Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) closed the day with a 3.35% gain at $10.04. The stock&#8217;s intraday high and low were $10.24 and $9.81, respectively, with a 52-week range of $24.61 to $8.26. Rivian reported <a href="https://www.benzinga.com/news/earnings/24/11/41825787/rivian-q3-earnings-highlights-revenue-eps-miss-ceo-confident-in-q4-gross-profit-r2-being-fundamenta">third-quarter revenue</a> of $874 million, missing the Street consensus estimate of $1.00 billion. 
DraftKings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>) ended the day with a 1.91% increase at $38.98. The stock&#8217;s intraday high and low were $39.38 and $38.3, respectively, with a 52-week range of $49.57 to $28.69. DraftKings reported third-quarter revenue of $1.095 billion, up 39% year-over-year, but <a href="https://www.benzinga.com/news/earnings/24/11/41826834/draftkings-q3-highlights-revenue-miss-2024-guidance-trim-first-2025-outlook-ceo-reaffirms-focus-on-">missed the Street consensus estimate</a>.
See Also: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/41809435/how-to-earn-500-a-month-from-nvidia-stock-after-trump-win?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">How To Earn $500 A Month From Nvidia Stock After Trump Win</a>
Block, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>) fell by 3.05% to close at $75.27. The stock&#8217;s intraday high and low were $78.08 and $74.94, respectively, with a 52-week range of $87.52 to $50.63. The Jack Dorsey-led company reported quarterly earnings of 88 cents per share, <a href="https://www.benzinga.com/news/earnings/24/11/41826457/block-shares-sink-after-mixed-q3-results-eps-beat-revenues-miss">beating the analyst consensus estimate</a>, but revenue missed the consensus estimate. 
Pinterest Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>) saw a 0.50% increase to close at $33.93. The stock&#8217;s intraday high and low were $34.65 and $33.91, respectively, with a 52-week range of $45.19 to $27. Pinterest reported <a href="https://www.benzinga.com/news/earnings/24/11/41827920/pinterest-q3-earnings-revenue-beat-eps-miss-soft-guidance-ai-investments-paying-off-and-more">third-quarter revenue</a> of $898 million, beating the consensus estimate, but earnings per share missed analyst estimates. 
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rose by 2.90% to close at $296.91. The stock&#8217;s intraday high and low were $299.75 and $285.52, respectively, with a 52-week range of $299.75 to $138.8. Elon Musk&#8217;s net worth <a href="https://www.benzinga.com/markets/equities/24/11/41813356/elon-musks-net-worth-soars-by-26-5-billion-in-single-day-after-tesla-stock-surges-post-trump-vic">soared by $26.5 billion</a> in a single day following Donald Trump&#8217;s victory in the 2024 election. 
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41794596/bitcoin-ethereum-dogecoin-slingshot-to-the-moon-after-trump-victory-but-sharp-correction-m?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Slingshot To The Moon After Trump Victory But &#8216;Sharp&#8217; Correction Might Be In Store: Analyst Views BTC Between $80-90K By End Of Year</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

RIVN

Rivian, Draftkings, Block, Pinterest, And Tesla: Why These 5 Stocks Are On Investors' Radars Today

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