Block (XYZ) Added to the US Conviction List at Goldman Sachs

Block, Inc. (NYSE:XYZ) is included among the 10 Most Volatile Stocks to Buy in S&P 500.

Photo by Viacheslav Bublyk on Unsplash

Block, Inc. (NYSE:XYZ) builds ecosystems focused on commerce and financial products and services in the United States and internationally.

On June 1, Block, Inc. (NYSE:XYZ) was added to Goldman Sachs’ US Conviction List as part of the firm’s monthly update. The analyst expects the company to deliver an above-consensus earnings growth of 64% in the ongoing year. Goldman believes that Block will execute on its plans to attract more and “stickier” users to its platform.

Goldman maintains a ‘Buy’ rating on Block, Inc. (NYSE:XYZ) with a price objective of $95, indicating an upside of over 39% from the current levels.

Block, Inc. (NYSE:XYZ) exceeded expectations in its Q1 2026 report last month, driven primarily by the sharp growth in profits from the Cash App. Moreover, the company raised its full-year 2026 outlook as it continues to benefit from the resilient consumer spending and strong growth in its core businesses. The payment firm is now projecting its annual gross ​profit to be $12.33 billion in 2026, up from its previous forecast of $12.20 billion. The revised guidance indicates a growth of over 19% compared to last year.

READ NEXT: 12 Best Dividend Stocks to Invest In According to Hedge Funds and 10 Best Renewable Energy Stocks to Buy According to Billionaires

Disclosure: None. Follow Insider Monkey on Google News.