11 Best Fintech Stocks to Buy Right Now

8. Block, Inc. (NYSE:XYZ)

Number of Hedge Fund Holders: 76

Block, Inc. (NYSE:XYZ) ranks among the best fintech stocks to buy right now. On June 3, Jefferies analysts increased the price target for Block, Inc. (NYSE:XYZ) from $70 to $75 while keeping a Buy rating.

This increase in the price target was based on the review of the company’s job listings and recent developments.

The analysts noticed an increase in direct sales job openings at Block, Inc. (NYSE:XYZ). The listings increased in May after a large hiring wave in April. Over the past year, Block, Inc. (NYSE:XYZ) is estimated to have hired about 250 salespeople, which shows a clear focus on growing its market reach.

This hiring trend, particularly in sales, reflects the company’s strategy to push into the up-market segment. Block, Inc. (NYSE:XYZ) also participated in the National Restaurant Show, which gave more evidence of its growing success in the enterprise sector.

Additionally, the analysts pointed out Block, Inc. (NYSE:XYZ) reduced listings for engineering and IT jobs after a workforce reduction in late March. This suggests that the company is realigning its workforce to fit its current business goals.

Block, Inc. (NYSE:XYZ), previously known as Square, is an American financial technology company that offers a range of financial products and services to consumers and merchants.