Block Inc. received an Outperform rating from Bernstein on Thursday, with the firm maintaining a price target of $95.00 for the payments company. The reiteration follows a 30% gain in Block’s shares over the past six months, which brought the stock to $84.88 on Thursday, up 2.14% and near its 52-week high of $86.75.
Analysts at Bernstein emphasized the rapid expansion of Block’s Neighborhoods platform, an integrated local commerce initiative linking Cash App and Square. Since June, the number of participating sellers has grown roughly tenfold, with 30,000 new sellers added through automated enablement. Bernstein estimates these sellers could generate between $5 billion and $10 billion in annualized gross payment volume. Top sellers on the platform are recording 110% more follower transactions, according to the firm’s analysis.
Block’s June shareholder letter noted that sellers with an average tenure of three quarters in Neighborhoods saw follower spending reach 10% of their gross payment volume. To further incentivize adoption, Block is offering a $5.00 Local Cash bonus for the first time, alongside a 10% Local Cash reward—capped at $10.00 per order—on qualifying purchases with participating sellers during the first 12 months.
The company also reported adjusted earnings per share of $1.02 for the second quarter of 2026, up from $0.62 in the same period last year and above the $0.87 consensus estimate. The results underscore Block’s ability to scale its core payments business while expanding into adjacent revenue streams.
Multiple firms have set price targets for Block in recent weeks. Argus assigned a $103.00 target with a Buy rating, UBS set a $98.00 target, and Needham set a $100.00 target, all with Buy recommendations. The stock’s valuation remains a point of discussion, with InvestingPro flagging it as undervalued based on Fair Value assessments.
