Block Shares Crash On Cash App Miss: Analyst Says 'Not An Investable Story'

Block Inc XYZ shares are tanking on Friday after the company announced on Thursday downbeat first-quarter results.The announcement came amid an exciting earnings season. Here are some key analyst takeaways.Benchmark On BlockAnalyst Mark Palmer downgraded the rating from Buy to Hold.Cash App generated gross profits of $1.38 billion, missing Street estimate of$1.42 billion, which contributed to "Block's shortfalls on other metrics," Palmer said in a note. The company reported gross payment volume (GPV) of $5 ...