5 Stocks That Will Skyrocket

1. Block, Inc. (NYSE:SQ)

Number of Hedge Fund Holders: 84

Share price as of August 10: $88.54

Block, Inc. (NYSE:SQ), a data processing company, creates tools to help sellers accept card payments. The company also provides hardware products like its Magstripe reader, enabling swiped transactions of magnetic stripe cards. Out of 912 hedge funds, 84 were long Block, Inc. (NYSE:SQ) in the first quarter of 2022, with their combined stakes valued at $6.2 billion.

A ‘Buy’ rating was reiterated on Block, Inc. (NYSE:SQ) shares on August 8 by analyst Dan Dolev at Mizuho. The analyst also holds a $125 price target on the stock. The company’s three-year sales growth CAGR is 65% as of 2022. Block, Inc.’s (NYSE:SQ) EPS for the second quarter was $0.20, beating estimates by $0.02, while its revenue was $4.4 billion, beating estimates by $69.5 million. The company’s EPS has positive growth prospects over the next three-to-five years, as it’s estimated to rise by 12.7% over that period.

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