Block Inc.’s SQ fourth-quarter showstopper has CNBC’s Jim Cramer caught in a stock market whirlpool.
Fanning the Flames: The Jack Dorsey-helmed fintech titan stunned the industry with an unexpected revenue surge in the final quarter.
The closing bell saw the company’s shares rocketing up over 15% on Friday, yet Cramer, the face of “Mad Money,” believes it’s a climb that falls short.
Cramer hailed Block’s quarter as “amazing,” nudging the target price to a hefty $100.
Noteworthily, Jim Cramer’s views on McDonald’s AI-driven growth resonating with Nvidia
Yet, a tweet from the maestro on the company’s stock might befuddle a few onlookers.
“Be mindful; there exist today a pack of eager beavers willing to pay any price for SQ. A sorry flock, mindlessly pursuing higher peaks.”
Block disclosed $5.77 billion in revenue in Q4, outstripping Street estimates of $5.7 billion, as per data from Benzinga Pro.
Annual revenue rang in at $21.92 billion, marking a 25% upswing from the previous year.
Chiming In: Following Block’s swashbuckling Q4 quest, most analysts have turned bullish on the stock, titillating price targets of up to $100.
JPMorgan analyst Tien-tsin Huang underscored the financial juggernaut’s upbeat trajectory post the fourth-quarter flourish. Huang accentuated the Cash App’s surge, marking it as the vanguard of a new-age social banking revolution.
