1-Star Price
INVESTOR
5-Star Price
INVESTOR
Economic Moat
INVESTOR
Capital Allocation
INVESTOR
Block saw strong growth and narrowed its operating loss sequentially during the third quarter. We will maintain our $104 per-share fair value estimate and narrow moat rating. While we believe shares are undervalued, we stress our Morningstar Very High Uncertainty Rating.
Founded in 2009, Block provides payment acquiring services to merchants, along with related services. The company also launched Cash App, a person-to-person payment network. Block has operations in Canada, Japan, Australia, and the United Kingdom; about 5% of revenue is generated outside the U.S.
