William Blair analyst Andrew Jeffrey has maintained their bullish stance on XYZ stock, giving a Buy rating yesterday.
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Andrew Jeffrey has given his Buy rating due to a combination of factors including Block’s strong digital finance offerings and its ability to differentiate itself from traditional fintech companies. The company’s Cash App is emerging as a leading digital banking alternative, providing low-cost financial solutions and demonstrating rapid product development with features like Cash App Pools.
Additionally, Block’s second-quarter performance showed a rebound in ecosystem gross profit, driven by services like BNPL and Borrow, and an increase in banking actives. The company’s strategic shift from P2P transactions to commerce volume is expected to enhance monetization. Furthermore, Square’s international growth and strong LTV/CAC metrics indicate a positive trajectory, reinforcing Jeffrey’s confidence in Block’s potential for continued growth.
Jeffrey covers the Technology sector, focusing on stocks such as Fiserv, Block, and Corpay Inc. According to TipRanks, Jeffrey has an average return of 14.2% and a 63.29% success rate on recommended stocks.
In another report released yesterday, BTIG also maintained a Buy rating on the stock with a $80.00 price target.