1 Beaten-Down Stock That Could Soar 47%, According to Wall Street
Fintech specialist Block (NYSE: XYZ) recently reported its fourth-quarter and full-year 2024 financial results, and the market was not impressed, to say the least. The company's shares dropped significantly on the heels of this latest quarterly update. However, analysts on Wall Street seem to think that was an overreaction.Based on Block's current average price target of $95.75 (according to analysts tracked by Yahoo! Finance), the company's shares could soar by about 47%. Should investors buy the Street's optimism and pick up Block's shares on the dip?First, let's review what Block does. The company became famous for offering sleek, convenient point-of-sales systems to small and medium-sized businesses. The financial services company has evolved past this stage. Block provides various products to businesses through its Square (its former name) ecosystem, including payroll, marketing, banking services, and more. Block also owns a peer-to-peer (P2P) payment app, Cash App, which competes with banks by offering prepaid debit cards, stock and crypto trading services, direct deposits, small loans, and more.Continue reading
Fintech specialist Block (NYSE: XYZ) recently reported its fourth-quarter and full-year 2024 financial results, and the market was not impressed, to say the least. The company's shares dropped significantly on the heels of this latest quarterly update. However, analysts on Wall Street seem to think that was an overreaction.
Based on Block's current average price target of $95.75 (according to analysts tracked by Yahoo! Finance), the company's shares could soar by about 47%. Should investors buy the Street's optimism and pick up Block's shares on the dip?
First, let's review what Block does. The company became famous for offering sleek, convenient point-of-sales systems to small and medium-sized businesses. The financial services company has evolved past this stage. Block provides various products to businesses through its Square (its former name) ecosystem, including payroll, marketing, banking services, and more. Block also owns a peer-to-peer (P2P) payment app, Cash App, which competes with banks by offering prepaid debit cards, stock and crypto trading services, direct deposits, small loans, and more.
