Fintel reports that on September 2, 2026, Scotiabank initiated coverage of Block, Inc. - Depositary Receipt (OTCPK:BSQKZ) with a Sector Perform recommendation.
Block, Inc., formerly known as Square, Inc., is a technology company headquartered in San Francisco, California, operating in the financial services and digital payments industry. The company's portfolio includes Square payment hardware, Cash App for personal finance, TIDAL, and integrated cryptocurrency solutions such as Bitcoin trading. In its Form EX-99.1 filing dated August 5, 2026, which contained its Q2 2026 Shareholder Letter, Block reported year-over-year gross profit growth of 25%, Cash App gross profit growth of 31%, and Square gross profit growth of 13%. The filing also reported an operating income margin of 14% and a raised full-year guidance, with management noting that growth remains durable through technological shifts.
Separate from Scotiabank's individual coverage initiation, aggregate analyst consensus data provides additional context. As of August 1, 2026, the current recommendation distribution for Block consisted of 14 strong buy, 28 buy, and 10 hold recommendations, representing an 80.8% positive sentiment and 19.2% hold sentiment out of 52 total recommendations. This compares to the prior period on July 1, 2026, which had 14 strong buy, 27 buy, and 7 hold recommendations. Regarding price targets, the current consensus mean target was recorded at $83.91 and the median at $84.69 as of February 3, 2026. This represents a -25.15% revision from the prior consensus mean target of $112.11 recorded on November 17, 2025.
Other research firms have also recently updated their ratings for the company. On August 25, 2026, Wolfe Research maintained its Outperform rating. Earlier in August, Canaccord Genuity maintained its Buy rating on August 13, and Evercore ISI Group maintained its Outperform rating on August 11. Argus Research maintained its Buy rating on August 7, while both Keybanc and TD Cowen maintained their respective Overweight and Buy ratings on August 6, 2026.
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This story originally appeared on Fintel.