Canaccord lowered the firm’s price target on Block (XYZ) to $80 from $100 and keeps a Buy rating on the shares. The firm said XYZ missed Q1 gross profit expectations, largely driven by Cash App. Cash App gross profit growth decelerated to 10% year over year in Q1, down from 16% in Q4.
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Read More on XYZ:
- Block’s Strategic Resilience and Growth Potential Amidst Economic Challenges: A Buy Recommendation by Mayank Tandon
- Block price target lowered to $70 from $80 at Keefe Bruyette
- Block downgraded to Hold from Buy at Benchmark
- Buy Rating for Block: Undervaluation, Strategic Initiatives, and Long-term Growth Prospects
- Block downgraded to Hold from Buy at Seaport Research