Canaccord Raises its Price Target on Block (XYZ)

Block, Inc. (NYSE:XYZ) is one of the 15 High Growth Stocks to Buy and Hold for the Next Decade.

On May 19, 2026, Canaccord analyst Joseph Vafi raised the firm’s price target on Block, Inc. (NYSE:XYZ) to $85 from $80 and maintained a Buy rating on the shares. Vafi said Block delivered solid Q1 results, with no adverse effects showing up a quarter after the company announced a roughly 40% workforce reduction as it leaned into AI. Canaccord added that, against a tough macro backdrop and maturing e-commerce payments, Block’s results showed that focus and strategy were paying off.

Goldman Sachs also raised the firm’s price target on Block, Inc. (NYSE:XYZ) to $95 from $86 and maintained a Buy rating on the shares. Goldman Sachs said Block delivered a solid top- and bottom-line beat, with Square and Cash App gross profit ahead of expectations and operating expenses meaningfully lower due to headcount reductions. The firm also cited improving volume growth, customer acquisition, and retention at Square, continued momentum at Cash App, and execution tied to AI, the seller ecosystem, and its U.S. consumer neobank strategy.

Earlier in May, Block, Inc. (NYSE:XYZ) reported Q1 adjusted EPS of 85c, ahead of the consensus estimate of 68c. Revenue totaled $6.06B, above the consensus estimate of $6.03B. In its quarterly letter, Block said year-over-year gross profit growth accelerated to 27%, while adjusted operating income margin reached an “all time high” of 25%. The company also said it now expects 19% year-over-year gross profit growth in 2026, an adjusted operating income margin of 27%, and adjusted diluted EPS growth of 62%.

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

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