A Bank of America research analyst maintained their buy rating for Block on Friday, more than two weeks after the large fintech announced a reorganization of its internal reporting structures. During this time Block, which is best known for popular payment services Cash App and Square, has refocused on improving its day-to-day execution, especially in the Square business to drive gross payment volume re-acceleration in 2025, according to senior equity research analyst Jason Kupferberg.
Kupferberg wrote in an August 16 note that, under the leadership of CEO Jack Dorsey and new head of Nick Molnar, Square has sharpened its focus on product innovation, sales, marketing and partnership. He penned the note after hosting a virtual investor meeting with Block’s IR team. (Molnar is the co-founder and former co-CEO of Afterpay, which Block acquired in 2022.On Aug. 1, Block promoted Molnar to head of sales, reporting directly to Dorsey. )
