We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Block (SQ - Free Report) continues to make strong efforts to deliver an enhanced experience to sellers with the help of its advanced solutions.
This is evident from the launch of new credit tools and cash flow management products.
Block unveiled the Square Credit Card in beta, which runs on the American Express network. The new credit card offers more spending flexibility to sellers.
The credit limit of the card is determined by the amount of sales processed by a seller through Square. It comes with no late fees or annual fees and it also rewards the sellers with free card processing every time they spend.
Apart from Square Credit Card, the company expanded the functions of Square Loans for large sellers, who will now have the flexibility to repay their loans on a fixed monthly schedule. This functionality is currently in the beta stage.
We note that the above-mentioned efforts are expected to aid Block in gaining momentum among upmarket sellers.
In addition to the new credit facilities, the company also introduced various features of Square Checking.
Block has enabled early deposit access for Square Checking sellers, with the help of which they can now access their ACH deposits quickly and consolidate their revenues in a single place.
This apart, up to four additional debit cards will be provided to the sellers, which will be connected to their Checking accounts. This is expected to be available in late 2023.
Further, the company continues to support sellers by preparing them for future priorities on the back of Square Savings.
This way, we believe Square Banking is likely to sustain its momentum among large as well as small businesses.
To Conclude
Undoubtedly, the latest move fortified the company’s key offerings.
Its continued focus on innovation in its product portfolio has played a significant role in shaping its growth trajectory.
Apart from the abovementioned new credit tools and cash flow management products, Block’s Square recently launched Tap to Pay on Android for UK retailers. With a compatible Android handset and no additional expense, the new technology enables vendors to safely accept contactless payments.
Further, Square announced an integrated spring product release, offering a slew of new features across the entire product ecosystem to unlock growth and create resilience for businesses of all sizes.
Block’s TIDAL reintroduced TIDAL RISING, which provides continuous support to a select group of rising artists through personalized marketing, education and direct funding, allowing them to develop, prosper and build their careers.
We believe that its growing portfolio will likely contribute to the overall financial performance of Block in the days ahead.
The Zacks Consensus Estimate for 2023 revenues is pegged at $20.53 billion, indicating growth of 17.1% from 2022.
The consensus mark for 2023 earnings stands at $1.69 per share, reflecting growth of 69% from 2022.
Notably, Block has gained 5.4% on a year-to-date basis.
Zacks Rank & Stocks to Consider
Currently, Block carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader technology sector are Akamai Technologies (AKAM - Free Report) , Baidu (BIDU - Free Report) and AvidXchange (AVDX - Free Report) . While Akamai Technologies and Baidu sport a Zacks Rank #1 (Strong Buy), AvidXchange carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Akamai shares have gained 6.6% in the year-to-date period. The long-term earnings growth rate for AKAM is currently projected at 10%.
AvidXchange shares have increased by 4.4% in the year-to-date period. The long-term earnings growth rate for AVDX is currently projected at 5.7%.
Baidu shares have gained 19.7% in the year-to-date period. Its long-term earnings growth rate is presently projected at 19.5%.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Shutterstock
Block (SQ) Introduces Credit & Cash Flow Management Tools
Block (SQ - Free Report) continues to make strong efforts to deliver an enhanced experience to sellers with the help of its advanced solutions.
This is evident from the launch of new credit tools and cash flow management products.
Block unveiled the Square Credit Card in beta, which runs on the American Express network. The new credit card offers more spending flexibility to sellers.
The credit limit of the card is determined by the amount of sales processed by a seller through Square. It comes with no late fees or annual fees and it also rewards the sellers with free card processing every time they spend.
Apart from Square Credit Card, the company expanded the functions of Square Loans for large sellers, who will now have the flexibility to repay their loans on a fixed monthly schedule. This functionality is currently in the beta stage.
We note that the above-mentioned efforts are expected to aid Block in gaining momentum among upmarket sellers.
Block, Inc. Price and Consensus
Block, Inc. price-consensus-chart | Block, Inc. Quote
More Into the Headlines
In addition to the new credit facilities, the company also introduced various features of Square Checking.
Block has enabled early deposit access for Square Checking sellers, with the help of which they can now access their ACH deposits quickly and consolidate their revenues in a single place.
This apart, up to four additional debit cards will be provided to the sellers, which will be connected to their Checking accounts. This is expected to be available in late 2023.
Further, the company continues to support sellers by preparing them for future priorities on the back of Square Savings.
This way, we believe Square Banking is likely to sustain its momentum among large as well as small businesses.
To Conclude
Undoubtedly, the latest move fortified the company’s key offerings.
Its continued focus on innovation in its product portfolio has played a significant role in shaping its growth trajectory.
Apart from the abovementioned new credit tools and cash flow management products, Block’s Square recently launched Tap to Pay on Android for UK retailers. With a compatible Android handset and no additional expense, the new technology enables vendors to safely accept contactless payments.
Further, Square announced an integrated spring product release, offering a slew of new features across the entire product ecosystem to unlock growth and create resilience for businesses of all sizes.
Block’s TIDAL reintroduced TIDAL RISING, which provides continuous support to a select group of rising artists through personalized marketing, education and direct funding, allowing them to develop, prosper and build their careers.
We believe that its growing portfolio will likely contribute to the overall financial performance of Block in the days ahead.
The Zacks Consensus Estimate for 2023 revenues is pegged at $20.53 billion, indicating growth of 17.1% from 2022.
The consensus mark for 2023 earnings stands at $1.69 per share, reflecting growth of 69% from 2022.
Notably, Block has gained 5.4% on a year-to-date basis.
Zacks Rank & Stocks to Consider
Currently, Block carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader technology sector are Akamai Technologies (AKAM - Free Report) , Baidu (BIDU - Free Report) and AvidXchange (AVDX - Free Report) . While Akamai Technologies and Baidu sport a Zacks Rank #1 (Strong Buy), AvidXchange carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Akamai shares have gained 6.6% in the year-to-date period. The long-term earnings growth rate for AKAM is currently projected at 10%.
AvidXchange shares have increased by 4.4% in the year-to-date period. The long-term earnings growth rate for AVDX is currently projected at 5.7%.
Baidu shares have gained 19.7% in the year-to-date period. Its long-term earnings growth rate is presently projected at 19.5%.