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New Buy Rating for Block (XYZ), the Technology Giant

Tipranks - Tipranks - Thu Jul 23, 6:30AM CDT

In a report released today, Matthew O’Neill from Bank of America Securities maintained a Buy rating on Block, with a price target of $100.00.

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O’Neill covers the Financial sector, focusing on stocks such as Visa, Mastercard, and Affirm Holdings. According to TipRanks, O’Neill has an average return of 12.3% and a 71.11% success rate on recommended stocks.

In addition to Bank of America Securities, Block also received a Buy from UBS’s Timothy Chiodo in a report issued today. However, on July 16, Clear Street initiated coverage with a Hold rating on Block (NYSE: XYZ).

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Based on Block’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $6.06 billion and a GAAP net loss of $308.68 million. In comparison, last year the company earned a revenue of $5.77 billion and had a net profit of $189.87 million

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