Shares of Block Inc. (SQ), the financial technology company formerly known as Square, soared by 6.33% on November 11th, 2024, as investors reacted positively to the company's strong growth prospects and potential undervaluation.

According to analysts, Block is currently trading at a discount of around 10.1% compared to its estimated fair value based on cash flow analysis. This suggests that the stock may be undervalued, providing an attractive entry point for investors.

Furthermore, the company's earnings are forecasted to grow at an impressive rate of 27.7% annually, significantly outpacing the broader U.S. market's growth expectations of 15.5%. This robust growth outlook, coupled with Block's recent turnaround in profitability and ongoing share buybacks, has likely contributed to the surge in investor confidence and demand for the stock.