Block: Success In Chasing A Big Market Opportunity Deserves A Higher Target Price

RollingCat/iStock via Getty Images Block (NYSE:SQ) shares are up about 34% since I argued the stock was a Buy about a year ago. Today I am confident to reiterate my "Buy" recommendation, as I see my original thesis on Block supported by strong full year 2023 results, with Block managing to score 26% YoY growth, as well as a positive inflection on operating income. Looking into 2024 and beyond, I am encouraged to note Block management's ambition to chase after a $205 billion TAM with an estimated 95% penetra ...