SQ - Block's Bullish Stance With Cost-Savvy Moves Spark Analysts' Confidence In 2026 'Rule Of 40' Goal | Benzinga
Shares of Block Inc (NYSE: SQ) were spiking higher on Friday, following the company's third-quarter earnings report.
The results came amid an exciting earnings season. Here are some key analyst takeaways from the earnings release.
Canaccord Genuity On Block
Analyst Joseph Vafi reiterated a Buy rating, while reducing the price target from $90 to $80.
"Sometimes a challenging macro environment can be a catalyst for change,” Vafi said in a note.
"We came away from Block's Q3 results with a sense of urgency among the management team to reinvigorate the seller business, strengthen the connection between the ecosystems, and manage costs,” the analyst wrote. "Barring the impact on Square GPV, key metrics across the main business lines, especially Cash App, continue to be healthy,” he added.
Needham On Block
Analyst Mayank Tandon reaffirmed a Buy rating, while cutting the price target from $82 to $77.
Block reported mixed third-quarter results, with lower transaction revenues due to macro pressures being offset by better-than-expected margins to drive an earnings beat, Tandon said.
Management re-introduced formal guidance and projected mid-teens gross profit growth ...