Could Block Inc. (NYSE:XYZ) be the unlikely hero of this earnings season? While many expected tech giants to dominate headlines, Block’s surprising financial performance has analysts buzzing. The stock was falling in early trading on Friday, after the company reported upbeat second-quarter earnings on Thursday.
- XYZ is showing resilience. Check the latest price here.
The announcement came amid an exciting earnings season. Here are some key analyst takeaways.
RBC Capital Markets On Block
Analyst Daniel Perlin maintained an Outperform rating, while raising the price target from $63 to $97.
Block’s total gross payment volume (GPV) grew 7.5% year-on-year, accelerating from 4.4% in the previous quarter, to $66.6 billion, ahead of Street expectations of $66.1 billion, Perlin. Cash App GPV contracted to $2.4 billion, while Square GPV grew to $64.3 billion, he …