UBS lowered the firm’s price target on Block (XYZ) to $97 from $98 and keeps a Buy rating on the shares. Three key items coming into results were Square Gross Payment Volume, total company gross profit growth, and Cash App Direct Deposit users, and Square GPV accelerated to 10%, gross profit growth in line with guidance, and 2.5M Cash App Direct Deposit users in December 2024, the analyst tells investors in a research note. XYZ remains on track to deliver against its Rule of 40 target annually for 2026, compounding gross profit in the mid-teens at least through 2026, UBS says.
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Read More on XYZ:
- Block shares may step back post Q4 report, says Citi
- Optimistic Long-Term Prospects for Block Despite Short-Term Challenges
- Block price target lowered to $87 from $100 at Keefe Bruyette
- Block Inc. Reports Strong Q4 2024 Earnings Growth
- Closing Bell Movers: Booking gains 3%, Akamai down 8% on earnings
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