Piper Sandler raised the firm’s price target on Block (XYZ) to $58 from $51 and keeps an Underweight rating on the shares following quarterly results. This quarter’s commentary focused heavily on the company’s internal AI productivity initiatives, growth in product usage among Cash App actives, and the latest ISO initiatives within Square. While Block certainly picked up operating leverage via its recent restructuring and focus on agentic product development/back office workflows, Piper remains skeptical of the company’s lofty growth targets and the sustainability of recent margin expansion.
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Read More on XYZ:
- Block price target raised to $90 from $85 at Keefe Bruyette
- Block Earns Top-Pick Buy as Strong Beat, Guidance Raise, and AI-Driven Leverage Prompt Price Target Hike to $101
- Closing Bell Movers: Trade Desk, Expedia fall after earnings
- Notable companies reporting after market close
- Block reports Q1 adjusted EPS 85c, consensus 68c