Shares ofBlock Inc (NYSE:SQ)were trading flat on Friday, after the company reporting its second-quarter results.
The results came amid an exciting earnings season. Here are some key analyst takeaways.
JPMorgan OnBlock
Analyst Tien-tsin Huang reaffirmed an Overweight rating, while raising the price target from $137 to $138.
Block reported gross profits at $2.23 billion, higher than the Street's $2.19 billion expectations, up 20%, Huang said in a note. The company's EBITDA was very healthy, at $759 million, "implying margins of 34%," he added.
"Numbers aside, the focus on GTM (go-to-market) inJack Dorsey's SH letter should...
Login or create a forever free account to read this news
Sign up/Log in