Why Block Stock Got Knocked on Friday
One of the more liked and lucrative fintech stocks in our time, Block (NYSE: SQ), wasn't in favor on Friday. The company's shares ended up trading down by more than 2%, a steeper fall than that of the S&P 500 index, "thanks" to a pair of analyst price target cuts.
Of the two chops, that from Royal Bank of Canada's RBC Capital was the deeper. Analyst Daniel Perlin lowered his price target to $203 per share from the previous $295. But he still believes in the stock, as he's maintaining an outperform (read: buy) recommendation on it.
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Source Fool.com
