BMO Capital Downgrades Block Inc. (XYZ) to Market Perform

BMO Capital analyst Rufus Hone downgraded Block Inc. (NYSE: XYZ) from Outperform to Market Perform with a price target of $58.00.

The analyst comments "We downgrade to Market Perform as we believe XYZ's anticipated gross profit (GP) growth acceleration may still have risk. We worry that the recent slowdown at Cash App may be indicative of a lower baseline growth rate going forward, and we are now less confident in the medium-term growth potential for Cash App. We previously underestimated the lack flexibility/conservatism built into XYZ's 2025 guidance, and had assumed recent headcount reductions would also cushion the impact of a slight reduction in top-line guidance. Downgrade to Market Perform; target to $58."

For an analyst ratings summary and ratings history on Block Inc. click here. For more ratings news on Block Inc. click here.

Shares of Block Inc. closed at $58.48 yesterday.

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