SQ - Trading Strategies For Block Stock Before And After Q3 Earnings | Benzinga
Block, Inc (NYSE: SQ) gapped up over 5% Thursday as the company heads into its third-quarter earnings print after the close.
When Block printed a third-quarter earnings beat on Aug. 3, the stock plunged almost 15% the following day.
For the second quarter, Block reported revenue of 5.54 billion, which beat the $5.08-billion consensus estimate. The company reported earnings per share of 39 cents, beating a consensus estimate of 35 cents.
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For the third quarter, analysts, on average, estimate Block will report earnings per share of 45 cents on revenues of $5.43 billion.
Ahead of the event, Wells Fargo analyst Jeff Cantwell initiated an Equal-Weight rating on Block and announced a price target of $45. The new price target is in line with the current share price.
From a technical analysis perspective, Block’s stock looks neutral heading into the event, trading ...