KeyBanc lowered the firm’s price target on Block (XYZ) to $60 from $65 and keeps an Overweight rating on the shares. The firm notes that Block’s Q1 results and guidance disappointed as Cash App customer behavior over the course of Q led the company to miss the gross profit guide and revise FY25 expectations downward.
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Read More on XYZ:
- Block price target lowered to $74 from $103 at Raymond James
- Block downgraded to Market Perform from Outperform at BMO Capital
- Block sinks 20% to $46.80 after Q1 report, analyst downgrades
- Wells downgrades Block on ‘heavily back half weighted’ outlook
- Block downgraded to Equal Weight from Overweight at Wells Fargo