Block, Inc. (NYSE: $XYZ) reported disappointing fourth-quarter earnings, with revenue of $6.03 billion, a 4.5% year-over-year increase, falling short of estimates by $227 million. The company also announced earnings per share (EPS) of $0.71, which was 57.78% higher year-over-year but missed expectations by $0.16. Following the earnings report, Block's shares experienced a sharp decline, closing down 17.69% on February 21, marking the steepest drop since 2020. Analysts from Needham and Goldman Sachs maintained a 'Buy' rating on the stock but adjusted their price targets to $90 and $94, respectively. Bank of America reiterated its 'Buy' recommendation, suggesting investors consider buying the dip in light of the company's long-term potential, particularly in Square and Cash App. Despite the earnings miss, Square Banking's gross profit grew 13% year-over-year, indicating some resilience within the company's portfolio.