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Evercore ISI analysts added shares of Block (NYSE:SQ) to the firm’s Tactical Underperform list. The analysts have an Underperform rating with a $49 per share price target on Block stock, signaling a nearly 20% downside from current levels.
Just a day before the company is due to release its earnings, the analysts highlighted 7 reasons why they believe Block stock is a sell.
As far as estimates are concerned, the analysts see a downside of 4% and 10% to Consensus 2023 Gross Profit and Adjusted EBITDA, respectively.
Block stock price is down about 2% in pre-open Wednesday. Shares are trading about 65% lower year-to-end.
