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Block (SQ) Outpaces Stock Market Gains: What You Should Know
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In the latest market close, Block (SQ - Free Report) reached $66.69, with a +1.28% movement compared to the previous day. The stock exceeded the S&P 500, which registered a gain of 0.22% for the day. Elsewhere, the Dow saw an upswing of 0.36%, while the tech-heavy Nasdaq appreciated by 0.32%.
Heading into today, shares of the mobile payments services provider had lost 14.64% over the past month, lagging the Business Services sector's gain of 0.42% and the S&P 500's gain of 1.61% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Block in its upcoming earnings disclosure. On that day, Block is projected to report earnings of $0.55 per share, which would represent year-over-year growth of 150%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.64 billion, up 21.36% from the year-ago period.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Block. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 3.09% higher. As of now, Block holds a Zacks Rank of #3 (Hold).
Looking at its valuation, Block is holding a Forward P/E ratio of 22.43. This indicates a discount in contrast to its industry's Forward P/E of 23.98.
It is also worth noting that SQ currently has a PEG ratio of 0.65. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Technology Services industry currently had an average PEG ratio of 1.45 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 65, placing it within the top 26% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Block (SQ) Outpaces Stock Market Gains: What You Should Know
In the latest market close, Block (SQ - Free Report) reached $66.69, with a +1.28% movement compared to the previous day. The stock exceeded the S&P 500, which registered a gain of 0.22% for the day. Elsewhere, the Dow saw an upswing of 0.36%, while the tech-heavy Nasdaq appreciated by 0.32%.
Heading into today, shares of the mobile payments services provider had lost 14.64% over the past month, lagging the Business Services sector's gain of 0.42% and the S&P 500's gain of 1.61% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Block in its upcoming earnings disclosure. On that day, Block is projected to report earnings of $0.55 per share, which would represent year-over-year growth of 150%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.64 billion, up 21.36% from the year-ago period.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Block. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 3.09% higher. As of now, Block holds a Zacks Rank of #3 (Hold).
Looking at its valuation, Block is holding a Forward P/E ratio of 22.43. This indicates a discount in contrast to its industry's Forward P/E of 23.98.
It is also worth noting that SQ currently has a PEG ratio of 0.65. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Technology Services industry currently had an average PEG ratio of 1.45 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 65, placing it within the top 26% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.