Block says Cash App has 44 million verified monthly users after Hindenburg report
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April 3, 2023 10:20 AM EDT
Truist analyst Andrew Jeffrey told clients in a note Monday they should add to Block (NYSE: SQ) as they are increasingly convinced "detractors have a hollow argument."
The analyst reiterated a Buy rating and $105 price target on the stock. His note follows... More
March 31, 2023 9:19 AM EDT
Block's (NYSE: SQ) additional response to Hindenburg Research's short report was "reassuring," said Morgan Stanley analyst James Faucette.
The company released a statement on Thursday answering some questions regarding Hindenburg's claims. Block said it has "more than 51 million monthly transacting actives," with approximately 44 million verified, and that its approach to... More
March 30, 2023 2:00 PM EDT
Block (NYSE: SQ) shares rose Thursday after the company spoke out again in response to Hindenburg Research's short report last week.
Hindenburg disclosed a short position in the company and alleged Block inflated user metrics on Cash App and didn't rein in criminal activity by users.
Answering questions on its user... More
