Piper Sandler reiterates Overweight rating on Block Inc. (SQ), Cash App leads peer-to-peer money transfer apps

Piper Sandler analyst Harsh Kumar reiterated an Overweight rating and $103.00 price target on Block Inc. (NYSE: SQ).

"Block’s Cash App edged out PYPL’s Venmo by 2%, with 41% of teens that use a peer-to-peer money transfer apps preferring Cash App. Among payment apps teens used in the last month, the penetration rate of Block’s Cash App trails only Apple Pay and gained significant market share within the past year. Additionally, Block’s buy now pay later (BNPL) platform, Afterpay, ranked 2 nd behind PayPal “Pay in 4” with 28% market share. "

For an analyst ratings summary and ratings history on Block Inc. click here. For more ratings news on Block Inc. click here.

Shares of Block Inc. closed at $67.83 yesterday.

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