Block Inc. received continued support from Bernstein, which reiterated an Outperform rating and a $95 price target on Friday.
The analyst highlighted Block’s Neighborhoods initiative, an integrated local commerce platform within Cash App and Square, as a key driver of growth. The seller base has expanded roughly 10 times since June, with 30,000 new sellers added through automated enablement. Bernstein estimates these sellers could contribute $5 billion to $10 billion in annualized gross payment volume. Top-performing sellers are observing 110% more transactions from followers, though the incremental nature of these transactions remains uncertain.
Block reported adjusted second-quarter 2026 earnings of $1.02 per share, exceeding the consensus estimate of $0.87 and up from $0.62 a year earlier. The stock was trading at $85.32, near its 52-week high of $86.75, following a 30% gain over the past six months.
The company is currently offering a $5 Local Cash bonus and 10% Local Cash rewards (capped at $10 per order) for qualifying purchases with participating Neighborhoods sellers during the first 12 months. Followers’ spend reached 10% of seller gross payment volume in June after an average of three quarters on the platform.
Other analysts have also adjusted their outlooks on Block. Argus raised its target to $103, UBS to $98, and Needham to $100, all maintaining Buy ratings.
Broader fintech sentiment showed mixed revisions in Goldman Sachs’ Q2 2026 review, with Chime, Remitly, Par Technology, and Riskified seeing the largest upward adjustments to revenue and EPS estimates. Conversely, Western Union, Fiserv, and Shift4 Payments faced the steepest downward revisions. Wolfe Research noted Klarna as the top fintech and payments stock in investor interest, alongside Mastercard, Global Payments, Block, and Adyen, with sentiment and positioning remaining stable week-over-week.
