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Benzinga
Benzinga
Business
Anusuya Lahiri

Here's How Needham Views Block After Its Analyst Day

SQ Needham Mayank Tandon (Person) Afterpay NYSE Economics
  • Mayank Tandon from Needham has reiterated a Buy on Block, Inc (NYSE:SQ) with a price target of $135 (65.9% upside). 
  • Last week, Tandon attended SQ's virtual analyst day. Management laid out its view of the company's bright future given the numerous growth drivers in the Seller and Cash App ecosystems, compelling LT unit economics for each segment, and additional synergies from Afterpay. 
  • Tandon believes SQ will drive robust mid-20s+ gross profit growth from a secular increase in digital payments; the reopening of economies; expansion in international markets; upmarket development from targeting larger customers; and new products to its ecosystems to amplify cross-sales. 
  • Price Action: SQ shares traded higher by 0.49% at $83.85 on the last check Monday.
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