Block price target raised to $95 from $86 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Block (XYZ) to $95 from $86 and keeps a Buy rating on the shares. Block delivered a solid top and bottom line beat, with Square and Cash App gross profit outperforming expectations and fully burdened gross profit slightly ahead despite higher-than-modeled risk losses, while significantly lower operating expenses reflected headcount reductions, the analyst tells investors in a research note. Square showed improving volume growth, customer acquisition, and retention, Cash App maintained strong momentum with signs that risk loss growth may be peaking as lending cohorts mature, and overall execution supported the view that the company is improving efficiency through AI, accelerating its seller ecosystem, and scaling a leading U.S. consumer neobank, reinforcing its status as a top pick despite high expectations, the firm says.