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Block (XYZ): New Buy Recommendation for This Technology Giant

Tipranks - Tipranks - Fri Aug 7, 8:22AM CDT

In a report released yesterday, Ramsey El Assal from Cantor Fitzgerald maintained a Buy rating on Block, with a price target of $95.00. The company’s shares closed yesterday at $84.20.

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According to TipRanks, El Assal is an analyst with an average return of -1.8% and a 48.57% success rate. El Assal covers the Technology sector, focusing on stocks such as Automatic Data Processing, Strategy, and Remitly Global.

In addition to Cantor Fitzgerald, Block also received a Buy from BTIG’s Andrew Harte in a report issued today. However, on the same day, BMO Capital maintained a Hold rating on Block (NYSE: XYZ).

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Based on Block’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $6.62 billion and a net profit of $88.52 million. In comparison, last year the company earned a revenue of $6.05 billion and had a net profit of $538.46 million

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