Despite a 14% post-earnings sell-off due to slowing July gross profit trends, Mizuho Securities expressed confidence in Block (NYSE:SQ) and reiterated a Buy rating on the stock. After analyzing the company’s recent results, the analysts discovered that the updated gross profit and operating expense guidance implies an adjusted EBITDA floor of $1.6 billion for 2023, about 7% ahead of the $1.5 billion EBITDA guide.

Based on this analysis, the analysts increased the price target for the stock from $85 to $90. Looking ahead to the third quarter, they expect a potential upside to approximately $430 million in adjusted EBITDA compared to the implied guide of around $366 million.

Deja una respuesta

Tu dirección de correo electrónico no será publicada. Los campos obligatorios están marcados con *

× ¿Cómo puedo ayudarte?