Needham Reiterates Buy Rating on Block Inc. (XYZ)

Needham analyst Mayank Tandon reiterated a Buy rating and $80.00 price target on Block Inc. (NYSE: XYZ).

The analyst comments "We recently attended Block's investor day in San Francisco. Overall, we came away with a better understanding of management's growth initiatives, new products, and updated go-to-market strategy. The most important takeaways included its new products and AI initiatives across all facets of its business. On the Cash App side, it announced its new Neighborhoods and Moneybot products. On the Square side, it announced new capabilities, including Managerbot, its AI agent for restaurant operators, as well as further sales expansion to spur growth upmarket and internationally. It further announced a new $5 billion share repurchase program and intends to return 80% of non-GAAP FCF to investors. Currently trading at a reasonable ~9x EV/FY26 EBITDA, we believe the risk-reward is favorable. As such, we reiterate our BUY rating and $80 target."

For an analyst ratings summary and ratings history on Block Inc. click here. For more ratings news on Block Inc. click here.

Shares of Block Inc. closed at $61.95 yesterday.

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