In a report released today, Mayank Tandon from Needham reiterated a Buy rating on Block, with a price target of $80.00.
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Mayank Tandon has given his Buy rating due to a combination of factors that highlight Block’s strategic growth initiatives and product innovations. The company’s recent investor day in San Francisco provided insights into its new products and AI-driven strategies, which are expected to enhance its business operations significantly.
Block’s introduction of new offerings like Neighborhoods and Moneybot for Cash App, along with Managerbot for Square, showcases its commitment to leveraging AI for business improvement. Additionally, the announcement of a $5 billion share repurchase program and the plan to return 80% of non-GAAP free cash flow to investors further supports the positive outlook. Trading at an attractive valuation of approximately 9x EV/FY26 EBITDA, the risk-reward profile appears favorable, justifying the Buy rating and an $80 price target.
In another report released today, Mizuho Securities also reiterated a Buy rating on the stock with a $100.00 price target.