Shares of Block (XYZ) are down 13% after the financial technology and cryptocurrency company reported financial results that missed Wall Street forecasts across the board.
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The company run by CEO Jack Dorsey announced earnings per share (EPS) of $0.54, which was well below the $0.64 expected among analysts. Revenue for the year’s third quarter of $6.11 billion was short of the $6.31 billion forecast on Wall Street.
Block’s income statement. Source: The Fly
Is XYZ Stock a Buy?
The stock of Block has a consensus Moderate Buy rating among 32 Wall Street analysts. That rating is based on 25 Buy, four Hold, and three Sell recommendations issued in the last three months. The average XYZ price target of $89.60 implies 26.25% upside from current levels. These ratings could change after the company’s financial results.
