Where Does Block Inc (XYZ) Stock Belong? Evercore Puts It at $96

Block Inc (NYSE:XYZ) is one of the most undervalued blockchain stocks to buy now. Block Inc (NYSE:XYZ) stock has gained around 17% in the past month, trading under $72. The equity research firm Evercore ISI sees the stock making a huge leap in the period ahead. On May 4, Evercore reiterated its Outperform rating on XYZ stock with a price target of $96.

Where Does Block Inc (XYZ) Stock Belong? Evercore Puts It at $96

Among other reasons for its bullish view on Block stock, Evercore pointed to progress in the company’s fundamental turnaround, particularly in the Square and Cash App business unit. The firm also noted Block’s decision to cut 40% of jobs across the company in a pivot to AI-driven operational efficiency.

Bitcoin is a big part of Block’s business. Besides holding Bitcoin in its treasury, the company also facilitates Bitcoin trading through its Cash App platform. On April 28, the company revealed that its Bitcoin reserve stood at 28,355.05 coins at the end of Q1 2026, valued at $2.3 billion.

This count consists of 8,997.89 coins in the company’s treasury and 19,357.16 coins in customer holdings.

Block Inc (NYSE:XYZ) is a financial services provider for consumers and merchants. Through its Square unit, it offers credit card readers, loans, and payment processing to business clients. Through its Cash App unit, it offers mobile money transfer services. Block also invests in Bitcoin and supports cryptocurrency adoption efforts.

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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