In the latest market close, Block (SQ) reached $73.22, with a -1.69% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.16%. Meanwhile, the Dow experienced a drop of 0.37%, and the technology-dominated Nasdaq saw an increase of 0.78%.

Heading into today, shares of the mobile payments services provider had gained 10.95% over the past month, outpacing the Business Services sector's gain of 2.81% and the S&P 500's gain of 1.67% in that time.

The investment community will be paying close attention to the earnings performance of Block in its upcoming release. The company is slated to reveal its earnings on November 7, 2024. On that day, Block is projected to report earnings of $0.88 per share, which would represent year-over-year growth of 60%. At the same time, our most recent consensus estimate is projecting a revenue of $6.17 billion, reflecting a 9.77% rise from the equivalent quarter last year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.60 per share and a revenue of $24.52 billion, signifying shifts of +100% and +11.89%, respectively, from the last year.

Investors should also note any recent changes to analyst estimates for Block. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 0.9% fall in the Zacks Consensus EPS estimate. Currently, Block is carrying a Zacks Rank of #3 (Hold).

Investors should also note Block's current valuation metrics, including its Forward P/E ratio of 20.72. This expresses a discount compared to the average Forward P/E of 25.35 of its industry.

One should further note that SQ currently holds a PEG ratio of 0.48. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Technology Services industry was having an average PEG ratio of 1.48.