With so many fintech stocks tumbling,
may be among the sturdier ones.
Financial-technology and digital-commerce companies’ shares have been hit hard by the market’s turn against growth stocks. Among them is Block, formerly known as Square. Its shares are down more than 40% so far in 2022. But it isn’t quite as downtrodden as some others that play in those realms, with companies such as
and Shopify both down more than 70%. Block is also trading around the same multiple of enterprise value to forward earnings before interest, taxes, depreciation and amortization it was at the end of 2019; multiples for stocks such as Adyen,
and Shopify are all now lower than they were at that point in time.
