William Blair analyst Andrew Jeffrey has reiterated their bullish stance on XYZ stock, giving a Buy rating on February 13.
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Andrew Jeffrey has given his Buy rating due to a combination of factors influencing Block’s potential for growth. He believes that despite recent challenges, Block is positioned to accelerate its Square GPV growth through strategic initiatives. These include strengthening internal sales efforts, enhancing merchant onboarding processes, and launching new solutions, which have already shown improvements in retaining new customer cohorts.
While acknowledging potential short-term volatility due to external risks like immigration policy impacts and broader economic factors, Jeffrey maintains that Block’s strategic initiatives should help it navigate these challenges. He emphasizes that Square’s ability to manage its own trajectory distinguishes it from peers facing technology-related issues. This confidence in Block’s self-directed growth capability underpins his Buy rating, as he expects the company to eventually overcome any near-term headwinds.
Jeffrey covers the Technology sector, focusing on stocks such as WEX, Bill.com Holdings, and Affirm Holdings. According to TipRanks, Jeffrey has an average return of 14.7% and a 65.59% success rate on recommended stocks.
In another report released on February 13, KeyBanc also maintained a Buy rating on the stock with a $120.00 price target.