Block Inc. is talking a more disciplined game lately, and Wall Street is listening.
Mizuho analyst Dan Dolev upgraded the Square parent company’s stock SQ to buy from neutral Thursday, becoming the latest to cheer management’s increased focused on cost discipline, which was a key focus of Block’s late February earnings call.Mizuho analyst Dan Dolev upgraded the Square parent company’s stock SQ to buy from neutral Thursday, becoming the latest to cheer management’s increased focused on cost discipline, which was a key focus of Block’s late February earnings call.
Block is targeting $1.3 billion in adjusted earnings before interest, taxes, depreciation and amortization this year, though Dolev’s analysis found there could be upside to that goal. He thinks the company could generate up to $1.7 billion in adjusted Ebitda in 2023, which would be about 30% above the company’s forecast.
Block operates a number of businesses, including Square, its seller-services business; Cash App, a mobile wallet; and Afterpay, the buy-now-pay-later service. Linking these three ecosystems is the “holy grail” for Block, and Dolev still has hope that the company can achieve better connections between them.
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