Block shares have lagged the broad market this year, and a UBS analyst doubts there's much upside ahead for the payment-technology name.
Block Inc. shares have lagged the broader market this year, and a UBS analyst doubts there’s much upside ahead for the payment-technology name.
“While Block continues to make progress on profitability and repeatedly outperforms quarterly expectations on adjusted [earnings before interest, taxes, depreciation and amortization], investors remain more focused on Block’s gross profit growth potential, we believe,” Kumar said. Block shares fell 1.9% in Wednesday trading. The stock is off 8% so far this year, as the S&P 500 SPX has advanced 16%.
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