8 Best Bargain Stocks To Buy in October

5. Block, Inc. (NYSE:SQ)

Forward P/E as of September 28, 2024: 18.81

Analyst Upside Potential as of September 28, 2024: 34%

Number of Hedge Fund Holders: 59

Block, Inc. (NYSE:SQ) is a financial services technology company that ranks fifth on our list of the best bargain stocks to buy now. The digital payment services provider offers its services to consumers and small to medium-sized businesses.

Founded in 2009, the company now owns several proprietary services including Square, Cash App, Spiral, TIDAL, and TBD. For the year ended 2023, more than 4 million sellers used Block’s (NYSE:SQ) Square ecosystem to make over 4 billion transactions.

The company also delivered strong financial results in the second quarter of 2024. Block, Inc. (NYSE:SQ) saw its gross profit grow by 20% year-over-year. For the full fiscal year 2024, the company expects gross profit to reach at least $8.89 billion, logging 18% growth year-over-year.

Gen Z and millennials back the demand for Block’s Cash App, allowing the company to exploit the segment further. As of now, this age group makes up 75% of the active customer base. While this is huge, the company has only penetrated 34% of the Gen Z market and 25% of the millennial market.

Overall, 59 hedge funds held the stock at the end of Q2 2024. Analysts are also bullish on the stock and their median price target represents an upside of 34% from current levels.