Jim Cramer Says Block, Inc. "Never Seems to Go Out of Fashion"

Block, Inc. (NYSE:XYZ) is one of the stocks Jim Cramer talked about recently. Cramer highlighted the stockduring the episode and remarked:

“When I was writing How to Make Money in Any Market, I tried to isolate growth stocks where I could find them. I was concerned that if every growth stock I highlighted was linked to the data center, you’d end up with a portfolio that could crush you the moment the data center story went out of style in the Wall Street fashion show, which of course is exactly what happened… There were the much beloved fintechs, like Affirm. See that stock? Woo. Or Square, which never seems to go out of fashion, even though it’s now called Block. There is Lemonade, Intuit.”

Block, Inc. (NYSE:XYZ) provides payment, commerce, and financial services through Square and Cash App. The company offers point-of-sale tools, banking, peer-to-peer payments, investing, and buy-now-pay-later solutions. Cramer discussed the company during the November 19 episode and said:

“How about all these fintech… Well, hey, I got one for you. How about Block, which is the old Square? At an analyst meeting today, Block just announced some aggressive growth targets for the next three years, sharply better than expected. Block is a real profitable business, and its stock wasn’t far from its low either, aided by a $5 billion announced buyback. This $38 billion stock ultimately vaulted 7.5%. Yes, it was the best performing in the S&P 500, not bad, just beating out GE Vernova.”

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Disclosure: None. This article is originally published at Insider Monkey.