XYZ

BMO upgraded Block to Outperform and raised its price target to $100 from $85, arguing that Square is finally delivering the long-awaited payments inflection after its cleanest quarter in nearly two years.

Gross Payment Volume (GPV) and gross profit are accelerating together, supported by stable restaurant/retail trends quarter-to-date, broader distribution, and improved product velocity, which should maintain momentum into Q3 and 2027.

BMO sees better growth visibility, margins, and product execution enabling multiple expansion for the stock.

FISV falls to Perform on continued execution risk and dependence on delayed implementations for a 4Q ramp, while TOST/XYZ are ~1%/~1.5% above Street on gross profit and both ~4% above on EBITDA.

BTIG maintained Buy and Top Pick status, arguing Cash App can sustain GP growth even as Borrow comparisons become tougher.

The firm sees incremental upside from Afterpay post-purchase, deeper P2P penetration, and primary-banking adoption, with Moneybot also offering a new attachment lever.

BTIG expects FY27 GP growth to remain in the mid-teens with continued margin expansion.

The company is forecasting 13%/17% Square/Cash App gross profit CAGRs through 2028.

Square GPV reaccelerates on GTM expansion, with field sales more than doubling to over 300 reps by 2027 plus 140 ISO partnerships, and all three focus areas (F&B, mid-market, international) already growing over 20% in Q1.

Cash App upside comes from Borrow/BNPL and converting actives into Primary Banking users at approximately 10x the gross profit.

The approximately 40% headcount cut yields $800–900M gross savings, supporting over 50% incremental margins by 2028.

Morgan Stanley's latest SMB survey was incrementally positive, leading the firm to raise its already-above-Street estimates and model higher FY27 gross profit growth and adjusted EPS.

The analyst highlights accelerating adoption across Square’s food, mid-market, banking, and AI offerings.

Morgan Stanley’s latest SMB survey came in incrementally positive for XYZ, SHOP, and TOST, with the firm raising already-above-Street XYZ estimates and now

Fintech generally strong: RKT +8% after rates moved lower; AFRM/UPST/XYZ +2-3%

The company was initiated at Buy with a $75 target as a top pick, reflecting a constructive view on payments due to a significant reset in expectations and valuation.

A potential inflection in 2H26 into 2027 is anticipated if investors regain confidence in the stability of revenue and EPS growth.

UBS views Block Inc. as one of the most attractive names in coverage, with increasing confidence in accelerating gross profit growth across both Square and Cash App.

The firm highlighted "Neighborhoods" as a key initiative that connects ecosystems, drives seller activation and Cash App user growth, and lowers processing costs.

Strong momentum in Cash App Borrow, with volumes up 69% year-over-year, and new products like Cash App Green and Moneybot are supporting engagement and monetization.

Disciplined underwriting and improving cohort performance are expected to stabilize credit costs into 2026.

UBS sees multiple growth levers, including AI tools, lending, network effects, and sales expansion, driving upside to estimates.

UBS issued a bullish note highlighting "Neighborhoods" as a key initiative connecting ecosystems, driving seller activation and Cash App user growth while lowering processing costs.

Mizuho says President Trump’s call for a one-year 10% cap on credit card APRs could have meaningful positive implications for BNPL and personal loan providers, particularly AFRM, UPST, SOFI, XYZ, and PYPL. The firm notes a cap would materially reduce tradit...

Block was upgraded to Outperform from Neutral at BNP Paribas.

ELSEWHERE EElt XYZ+2.59 as Clev was out positive saying distribution and discounts appear to be driving ongoing seller improvements DELL +7% as sell-side was out positive on following analyst day - yesterday and getting helped by the Al bid HPE +49: Continu...