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Investing.com - Keefe, Bruyette & Woods raised its price target on Block Inc (NYSE:XYZ) to $95.00 from $80.00 on Friday, while maintaining an Outperform rating on the stock.
The price target increase follows Block’s second-quarter results, which KBW described as strong with a "solid rebound in Cash App and improving GPV trends in Seller."
KBW noted that despite a "blip" in the first quarter, Block is "nearly back on track to how it anticipated the year unfolding" prior to the first-quarter guidance reduction.
The research firm raised its fiscal year 2025 earnings per share estimates for Block to $2.53 from $2.41, and its fiscal year 2026 estimates to $3.38 from $3.05, primarily due to higher gross profit projections.
KBW also indicated there is "potential for further upside momentum" as Block’s updated outlook continues to incorporate a buffer for macroeconomic conditions.
In other recent news, Block Inc. reported second-quarter results that exceeded expectations for both gross profit and adjusted operating income, leading the company to raise its fiscal year 2025 guidance. Analysts have responded positively to these developments, with several firms adjusting their price targets for the company’s stock. KeyBanc raised its price target to $100 from $60, maintaining an Overweight rating, while Needham also set a $100 price target, citing strong growth in Block’s Square segment and Cash App services. TD Cowen increased its target to $95, highlighting a reacceleration in Cash App gross profit. Morgan Stanley (NYSE:MS) adjusted its target to $77, noting lower share count and debt assumptions in its valuation model. Piper Sandler increased its target to $58, despite the company missing consensus earnings per share expectations by a small margin. These recent developments reflect a broad-based positive outlook from analysts following Block’s financial performance and strategic guidance updates.
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