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This 'Buy Now Pay Later' Stock Gets Downgraded Again Within A Week

This 'Buy Now Pay Later' Stock Gets Downgraded Again Within A Week

这种“先买后付”的股票在一周内再次被降级
Benzinga Real-time News ·  2022/09/22 15:31
  • Mizuho analyst Dan Dolev downgraded Block, Inc (NYSE:SQ) to Neutral from Buy with a price target of $57, down from $125.
  • After years of being deemed the most innovative name in payments, "user fatigue, plateauing inflows, loss of the best-of-breed" point of sale status, and buy now pay later "misexecution" are blocking Block's growth, Dolev noted.
  • Block "still has enormous potential, but it is not being realized."
  • Also Read: Payment Firms Square, PayPal Get Widely Different Views In Eyes Of Wall Street Amid BNPL Woes, Juicy Margins
  • Instead, BNPL estimates continue to come down & projects like Bitcoin, which accounts for <5% of gross profit, seem to preoccupy management's attention disproportionately.
  • He believes Block shares no longer deserve a premium valuation relative to the U.S. payments sector.
  • Recently Dolev recommended buying shares of Affirm Holdings, Inc (NASDAQ:AFRM) on weakness following plans of a government crackdown on the BNPL sector.
  • Dolev considered the Consumer Financial Protection Bureau's buy now pay later report as "less harmful than feared."
  • The "lack of a clear call for action is a positive," he noted.
  • Price Action: SQ shares traded lower by 5.97% at $55.90 on the last check Thursday.
  • 瑞穗分析师丹·多列夫下调评级Block，Inc.(纽约证券交易所股票代码：SQ)从Buy下调至中性，目标价从125美元下调至57美元。
  • 多列夫指出，在多年来被认为是支付领域最具创新性的名称之后，“用户疲劳、资金流入停滞不前、失去了同类中最好的”销售点地位，以及Buy Now Pay Late的“执行失误”，正在阻碍Block的增长。
  • “区块”仍有巨大的潜力，但还没有实现。
  • 另请阅读： 支付公司Square，PayPal在BNPL困境中获得华尔街截然不同的看法，利润丰厚
  • 相反，BNPL的估值继续下降，像比特币这样的项目，它占了
  • 他认为，相对于美国支付行业，区块股票不再值得溢价估值。
  • 最近，多列夫建议购买确认控股公司(纳斯达克：AFRM)在政府计划打击BNPL部门后表现疲软。
  • 多列夫认为消费者金融保护局的Buy Now Pay Late报告“没有人们担心的那么有害”。
  • 他指出，“缺乏明确的行动呼吁是积极的。”
  • 价格行动：在周四的最后一次检查中，SQ股价下跌5.97%，至55.90美元。
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