Block snaps seven straight sessions of gains

Block ( NYSE: SQ ) shares snapped seven straight sessions of gains on Wednesday, as the stock closed 0.8% lower at $66.74. The company gained about 10% in the preceding seven sessions. Overall, the stock has lost nearly 13% so far this year, compared to the over 18% rise in the broader S&P 500 Index. The stock closed 2.4% higher on Tuesday at $67.33. Looking at Seeking Alpha's Quant Rating, SQ has a Hold rating with a score of 3.30 out of 5. The company received A+ in the prospect of growth and F in the valuation factor. Turning to the Wall Street community, 37 analysts gave SQ a Buy and above. Eight analysts have given the stock a Hold recommendation, and two Strong Sell. Seeking Alpha analysts are also bullish and see the stock as a Buy. Seeking Alpha analyst Vladimir Dimitrov said Block’s last two quarters offered investors some respite as certain areas of the business are improving. “Margins will likely continue to improve through the rest of 2024, provided that a recession is avoided,” he added. More on Block Block's Bitcoin Thesis Dilutes Its Fintech Performance Block: Looking More Attractive, But Problems Remain (Rating Upgrade) Positive digital euro news boosts EU payment stocks, hits U.S. counterparts, study finds Biggest stock movers today: AMZN, INTC, DNA, and more