Block's stock, despite revenue growth, fell 76% amid cost-cutting and profitability efforts.
Block (formerly Square) has seen its stock drop 76% from its peak, despite revenue growth, primarily from Cash App and Bitcoin transactions. The company is focused on cost-cutting and integration of its services, targeting a "rule of 40" for profitability by 2026. Analysts view its current price-to-earnings ratio of 15.2 as an attractive entry point for long-term investors, but caution monitoring earnings progress before investing.
September 22, 2024
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