Block Inc (NYSE:XYZ) is among the best cryptocurrency stocks to buy right now. On April 22, BofA Securities boosted its price target on Block Inc (NYSE:XYZ) to $100 from $88 and reaffirmed its Buy rating on the stock. The firm based its decision on improving visibility into Block’s durable growth and operating leverage.
On growth outlook, BofA Securities said Block is at an inflection point. It pointed to increased monetization of transaction flows through a mix of strategies, including interchange and short-time financing yield.
On operating leverage, the firm pointed to AI-driven efficiency gains following recent workforce reductions. Block decided to slash 40% of its workforce as it expands its use of intelligence tools, as it seeks to become faster and more nimble in its operations.
BofA Securities noted that Block’s efficiency measures bolster confidence in the sustainability of the company’s 2026 guidance. Following a strong 2025, Block provided an upbeat outlook for 2026. The company expects to post a gross profit of $12.2 billion in 2026, reflecting an 18% increase over the prior year. It anticipates adjusted EPS of $3.66 in 2026, reflecting a 54% increase over the prior year’s figure.
In addition to pursuing AI-driven efficiency, Block Inc (NYSE:XYZ) is extending its reach and expanding offerings. On April 22, the company announced an expanded partnership with Uber to bring its Cash App Pay service to Uber riders and Uber Eats users in more countries.
And on April 22, Block announced the launch of a special Cash App account for kids under 13 years. When kids turn 13, they can start trading Bitcoin on the Cash App platform with parental control. Block founder and CEO Jack Dorsey also said in an interview with Wired published on March 6 that the company would start supporting stablecoin transactions.
Block Inc (NYSE:XYZ), founded in 2009 by Jack Dorsey, is an American financial services company. It offers point-of-sale systems and credit solutions to merchants through its Square subsidiary. It offers peer-to-peer payment, banking, and Bitcoin trading through its Cash App platform.
While we acknowledge the risk and potential of XYZ as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than XYZ and that has 10,000% upside potential, check out our report about this cheapest AI stock.
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