Block, the Technology sector company, was revisited by a Wall Street analyst today. Analyst Timothy Chiodo from UBS maintained a Buy rating on the stock and has a $95.00 price target.
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Timothy Chiodo has given his Buy rating due to a combination of factors that highlight Block’s strategic positioning and growth potential. The company is well-positioned to gain market share through enhanced distribution efforts and product improvements within its Square ecosystem. Additionally, Block’s Cash App is showing promising signs of growth, with expectations of increased monthly active users driven by initiatives targeting various demographics, including teens and families.
Moreover, Block’s management has demonstrated a commitment to maintaining operating expense discipline while strategically investing in sales and marketing. The upcoming investor day is anticipated to further showcase the company’s recent progress and returns across its ecosystems, reinforcing confidence in its future performance. These elements collectively underpin the positive outlook and Buy rating assigned by Chiodo.
In another report released on August 22, KBW also maintained a Buy rating on the stock with a $95.00 price target.
Based on the recent corporate insider activity of 118 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of XYZ in relation to earlier this year.