Block Inc's Stock Rises on Bitcoin Merchant Acceptance Surge
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 07 Jan 26
Source: Benzinga
Block Inc's stock price increased by 3.00%, reaching a 20-day high. This rise comes amid a broader market context where the Nasdaq-100 is up 0.25% and the S&P 500 is down 0.15%.
The surge in Block Inc's stock is attributed to a significant 53% increase in Bitcoin merchant acceptance, driven by the company's payment system, Square, which has enabled more merchants to accept Bitcoin. This development enhances Block's position in the cryptocurrency payment sector and is expected to attract further adoption of Bitcoin among merchants.
As Bitcoin continues to gain traction as a payment method, Block Inc's leadership in this space could lead to increased revenue opportunities, making it a stock to watch in the evolving digital payment landscape.
Analyst Views on XYZ
Wall Street analysts forecast XYZ stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for XYZ is 86.35 USD with a low forecast of 55.00 USD and a high forecast of 105.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
27 Analyst Rating
21 Buy
4 Hold
2 Sell
Moderate Buy
Current: 67.260
Low
55.00
Averages
86.35
High
105.00
Current: 67.260
Low
55.00
Averages
86.35
High
105.00
About XYZ
Block, Inc. builds technology to increase access to the global economy. The Company operates through two segments: Square and Cash App. The Square includes managed payment services, software solutions, hardware, and financial services offered to sellers, excluding those that involve Cash App. The Cash App segment includes the financial tools available to individuals within the mobile Cash App, including peer-to-peer payments, bitcoin and stock investments. The Cash App also includes Cash App Card, which is linked to customer stored balances that customers can use to pay for purchases or withdraw funds from an ATM. Cash App also includes the BNPL platform. Its Afterpay business is transforming the way customers manage their spending over time. Its TIDAL business is a music platform that empowers artists to thrive as entrepreneurs. Its Bitkey business is a simple self-custody wallet built for bitcoin. Proto business is a suite of bitcoin mining products and services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
