- Credit Suisse analyst Timothy Chiodo reiterated an Outperform on Block, Inc (NYSE:SQ). Due to higher interest rates, Chiodo cut the price target to $170 from $180.
- He saw two dominant business models that will “win” over the coming decade within payment acceptance.
- The models will either: 1) be the software platform (and monetize via SaaS, payments, embedded finance, and commerce-enablement services) such as Square; or 2) be a preferred partner in embedding and powering additional ecosystem- and monetization-enhancing services (e.g., payments, issuing, capital, payroll, insurance, fulfillment, tax, lead generation, B2B AP).
- Block is building a two-sided network supported by Cash App and Afterpay, which is a competitive advantage in providing lead generation and conversion versus other merchant acquirers.
- With Block shares trading at 7-times his 2022 gross profit, re-accelerating trends ahead, and a long list of “call options,” Chiodo sees a pathway to re-rating.
- Price Action: SQ shares traded higher by 5.69% at $63.73 on the last check Wednesday.
The US Is ‘Going Backwards In Time’: Here’s What Dave Portnoy Said In His Roe V. Wade Reaction Rant
Outspoken sports personality Dave Portnoy took to Twitter to share his take on Roe v. Wade being overturned by the Supreme Court. Here’s what he had to say.
