Block Inc (NYSE:XYZ) on Thursday reported better-than-expected first-quarter earnings and issued FY26 adjusted EPS guidance above estimates.
Block reported quarterly earnings of 85 cents per share, which beat the analyst consensus estimate of 68 cents by 25%, according to Benzinga Pro data. Quarterly revenue came in at $6.057 billion, which just missed the Street estimate of $6.061 billion.
"We continued to deliver strong financial performance in the first quarter as AI became more central to how Block operates and what we build for customers. We exceeded our guidance across gross profit, Adjusted Operating Income, and Adjusted EPS," CEO Jack Dorsey wrote in a letter to shareholders.
Block raised its full-year outlook and now expects gross profit growth of 19% in 2026, along with margin expansion and adjusted diluted EPS growth of 62%.
Block shares rose 6.7% to trade at $74.83 on Friday.
These analysts made changes to their price targets on Block following earnings announcement.
- Needham analyst Mayank Tandon maintained the stock with a Buy and raised the price target from $90 to $95.
- Keefe, Bruyette & Woods analyst Vasundhara Govil maintained Block with an Outperform rating and raised the price target from $85 to $90.
- Piper Sandler analyst Patrick Moley maintained the stock with an Underweight rating and raised the price target from $51 to $58.
Considering buying XYZ stock? Here’s what analysts think:
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