Is Block Stock a Buy Now?
Shares of Block (NYSE: XYZ) fell like a brick from the sky on Feb. 21, dropping by 18% after an underwhelming fourth-quarter earnings report.
For the fourth quarter, the financial technology giant posted earnings per share (EPS) of $0.71, well below the $0.89 Wall Street estimate. The company's gross profit growth rate of 14% during the holiday shopping season marked a sharp slowdown compared to the 22% pace in the prior year quarter. Despite the extreme market reaction, the company projected optimism in its outlook, targeting stronger growth and expanding profit margins in 2025.
With the stock now down about 33% from its 52-week high, is Block stock a buy now? Here's what you need to know.
Source Fool.com
