Why Block (SQ) is a Top Stock for the Long-Term
If you're a beginner investor, the idea of creating a portfolio from the ground up can feel like an impossible goal to achieve. That's why you should start by looking at stocks that are set to beat the market over the next 12 months, a strategy that's been proven to generate strong returns.
Now, let's take a deep dive into a great stock that could be just the right addition to your portfolio.
Why You Should Pay Attention to Block (SQ)
Headquartered in San Francisco, CA, Block, formerly known as Square, was incorporated in 2015. The company offers financial and marketing services through its comprehensive commerce ecosystem that helps sellers to start, run and grow their businesses.
On March 28, 2017, SQ was added to the Zacks Focus List at $17.25 per share. Shares have increased 290.78% to $67.41 since then.
For fiscal 2023, one analyst revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.01 to $1.95. SQ boasts an average earnings surprise of 11%.
Moreover, analysts are expecting Block's earnings to grow 95% for the current fiscal year.
It can be very profitable to buy stocks with rising earnings estimates, as stock prices respond to revisions. By adding a Focus List stock like SQ, there's a great chance you'll be getting into a company whose future earnings estimates will be raised, which can lead to price momentum.
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Block, Inc. (SQ) : Free Stock Analysis Report
