Block: Breakout Rally Still Far Away, Reiterating A Speculative Buy

Khosrork/iStock via Getty Images We previously covered Block (NYSE:SQ) in March 2024, discussing why we had maintained our Buy rating as the management expanded its monetization efforts and profit margins in FQ4'23, while offering a promising FY2024 guidance. With FQ1'24 likely to bring forth excellent numbers, as the management launched intensified customer acquisition efforts and the US labor market/consumer spending remained robust, we believed that it continued to offer a compelling investment thesi ...