Block says Cash App has 44 million verified monthly users after Hindenburg report

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Go back to Block says Cash App has 44 million verified monthly users after Hindenburg report

Add to Block (SQ) as 'detractors have a hollow argument' - Truist

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

Block's (SQ) response to short report 'reassuring' - Morgan Stanley

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

Block's (SQ) response to short report results in mixed reaction from Wall Street analysts

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