Block Inc. (SQ) PT Lowered to $85 at Mizuho Securities on growing risks
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Block's (SQ) response to short report results in mixed reaction from Wall Street analysts
March 30, 2023 2:00 PM EDTBlock (NYSE: SQ) shares rose Thursday after the company spoke out again in response to Hindenburg Research's short report last week.
Hindenburg disclosed a short position in the company and alleged Block inflated user metrics on Cash App and didn't rein in criminal activity by users.
Answering questions on its user... More
Block's (SQ) Cash App service has a significant opportunity, Morgan Stanley says
March 28, 2023 8:40 AM EDTMorgan Stanley cut its price target on Block (NYSE: SQ) to $70 from $72 per share in a note Tuesday, but analyst James Faucette said they believe the company's Cash App service "has a significant opportunity to be a sizable financial institution."
Faucette, who has an Equal-Weight rating on Block, believes that "Cash App is a bank for Millennials and Gen Z."
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