Block price target raised to $99 from $89 at Benchmark

Benchmark raised the firm’s price target on Block to $99 from $89 and keeps a Buy rating on the shares. The stock’s 21% rally since the Q4 report on February 22 is an adjustment of Block’s valuation to reflect the evolution of the company’s platform, “rather than as a too-far-too-soon move,” the analyst tells investors in a research note. The firm believes Block’s Q4 print provided an affirmation of management’s newfound focus on profitability and on the achievement of the “Rule of 40” – gross profit growth plus adjusted operating income margin – in 2026. Benchmark cites an updated sum-of-the-parts analysis for the target increase.