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Benzinga
Benzinga
Business
Priya Nigam

Here's Why BofA Believes Block Is Undervalued

Block SQ NYSE PayPal

Following the massive sell-off in Block Inc.’s (NYSE:SQ) shares, the stock reflects the company's Cash App value at merely about $6.5 billion, or around $93 per annual active user, versus PayPal Holdings Inc.’s (NASDAQ:PYPL) $326 and Affirm Holdings Inc.’s (NASDAQ:AFRM) $1,472, according to BofA Securities.

The Block Analyst: Jason Kupferberg upgraded the rating for Block from Neutral to Buy, while reducing the price target from $185 to $221.

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