Block price target raised to $95 from $80 at Needham

Needham raised the firm’s price target on Block to $95 from $80 and keeps a Buy rating on the shares. The company outperformed expectations on top and bottom line as impressive results in Cash App business offset softer Seller results impacted by currency headwinds and lower spending in discretionary verticals that pressured volume, the analyst tells investors in a research note. The firm added that Block’s commitment to margin expansion and increased visibility into the model will be welcomed by investors, especially in the current choppy market.