The stock of Block (XYZ) is up 2% after the financial technology and cryptocurrency firm announced a $5 billion increase to its existing share repurchase program.
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Management also announced plans to provide financial guidance during the company’s 2025 Investor Day. The news is being cheered by investors who have been clamoring for greater clarity around the company’s future financial results.
The payment processing firm, known for its Cash App, is hosting its Investor Day today (Nov. 19) in San Francisco, where senior leadership will present full-year 2026 financial guidance along with a three-year outlook.
Block’s Stock Buyback Plans
In terms of the expanded share repurchases, Block said they are part of its broader capital allocation strategy, which the company is detailing to investors during the Nov. 19 event. The $5 billion in additional stock buyback signals management’s confidence in the company’s finances, say analysts.
Investors appear to like Block’s commitment to returning capital to shareholders while also investing in its financial technology and blockchain payments business. The company is working to expand its financial ecosystem and grow with the evolution of cryptocurrencies.
Is XYZ Stock a Buy?
The stock of Block has a consensus Moderate Buy rating among 26 Wall Street analysts. That rating is based on 20 Buy, four Hold, and two Sell recommendations issued in the last three months. The average XYZ price target of $84.83 implies 47.17% upside from current levels.
