Block’s Seller business seeing market share gains, says Barclays

Barclays analyst Ramsey El-Assal says the firm’s transaction data show that Block’s Seller business is "enjoying long-term market share gains." Block is "holding its own in the highly competitive" restaurant vertical, while "leaning into impressive share gains’ in other categories to keep its overall Seller growth algorithm "solidly intact," the analyst tells investors in a research note. The firm believes the company’s overall Square/Seller offering "remains quite competitive, with further market share gains likely." It keeps an Overweight rating on the shares with a $103 price target.