New to Investing? This 1 Business Services Stock Could Be the Perfect Starting Point
Building an investment portfolio from scratch can be difficult, especially if you're new to investing. It's easy to feel overwhelmed with so many different investment options out there, but focusing on stocks that are set to outperform the market over the next 12 months is an excellent place to start.
Let's now take a look at one standout stock that could be a perfect fit for your portfolio.
Why You Should Pay Attention to Block (SQ)
Headquartered in San Francisco, CA, Block, formerly known as Square, was incorporated in 2015. The company offers financial and marketing services through its comprehensive commerce ecosystem that helps sellers to start, run and grow their businesses.
SQ was added to the Zacks Focus List on March 28, 2017 at $17.25 per share. Since then, shares have increased 285.45% to $66.49.
One analyst revised their earnings estimate higher in the last 60 days for fiscal 2024, while the Zacks Consensus Estimate has increased $0.02 to $3.11. SQ also boasts an average earnings surprise of 12.8%.
Additionally, Block's earnings are expected to grow 72.8% for the current fiscal year.
Since stock prices respond to earnings estimate revisions, it can be very profitable to buy stocks with an increased earnings outlook. By buying a Focus List stock like SQ, then, you're likely getting into a company whose future earnings estimates will be raised, potentially leading to price momentum.
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Block, Inc. (SQ) : Free Stock Analysis Report