Needham Reiterates Buy on Block (XYZ) With $80 Price Target After Investor Day

Block Inc. (NYSE:XYZ) is one of the AI Stocks on the Market’s Radar. On November 24, Needham reiterated a Buy rating on the stock with a price target of $80.00 following their attendance at Block’s investor day in San Francisco. Firm analysts are supportive of the stock based on Block’s growth strategy, AI roadmap, and capital return plans.

Needham highlighted several key takeaways from the investor day, coming away with better clarity on Block’s growth strategy and GTM strategy. The standout insights have particularly been the company’s new products and AI initiatives.

On the Cash App side, the company announced new Neighborhoods and Moneybot products, while on the Square division side, new capabilities were revealed including Managerbot, an AI agent designed for restaurant operators.

The firm also highlighted plans for sales expansion to drive growth in upmarket segments and international market, along with a share repurchase program.

“It further announced a new $5 billion share repurchase program and intends to return 80% of non-GAAP FCF to investors. Currently trading at a reasonable ~9x EV/FY26 EBITDA, we believe the risk-reward is favorable. As such, we reiterate our BUY rating and $80 target.”

Block, Inc. (NYSE:XYZ) is a financial technology company.

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