Shares of Block Inc (NYSE:XYZ) rose in early trading on Thursday, after the company Thursday reported upbeat first-quarter results.

Here are the key analyst insights:

• Needham analyst Mayank Tandon reiterated a Buy rating, while raising the price target from $90 to $95.
• BTIG analyst Andrew Harte maintained a Buy rating and price target of $90.

Check out other analyst stock ratings.

Needham: Block’s gross profit growing 26% year-on-year to $2.91 billion. It exceeded the consensus of $2.8 billion. Cash App gross profit growth accelerated to 38% year-on-year, driven by strong growth in Card and BNPL (buy now pay later), while Square GPV (gross payment volume) growth accelerated to 13% year-on-year, driven by food & beverage, mid-market and international, Tandon said in a note.

Management announced strong guidance, with both the second-quarter and full-year outlook coming in higher than consensus estimates, the analyst stated.

• Second-quarter gross profit and earnings guide to $3.04 billion and 86 cents per share, above the consensus of $3.02 billion and 82 cents per share, respectively.
• Full-year gross profit and earnings guidance raised to $12.33 billion and $3.85 per share, from prior projections of $12.20 billion and $3.66 per share, both topping consensus estimates. and the $3.67 consensus.

BTIG: Cash App drove Block's significant outperformance of 38% growth versus Street expectations of 29%, Harte said.

Block's adjusted operating income beat of $728 million versus the consensus of $616 million was "even more impressive," as it was "supported by top-line strength and AI initiatives, rather than the RIF announced last quarter," the analyst wrote. Management raised their 2026 guidance, which not only reflected the first-quarter's outperformance but also increased expectations for the rest of the year, he further stated.

XYZ Price Action: Shares of Block had risen by 6.27% to $74.53 at the time of publication on Friday.