Jack Dorsey's Block All Set for Q2 Earnings — Will XYZ Stock Keep Its Bullish Streak Going?

Block Inc. ) will release its financials for the second quarter after the closing bell on Wednesday. Here’s what to expect as the stock builds strong momentum ahead of the announcement.In Focus: Earnings Estimates, Analyst RatingsAnalysts estimate the fintech company, up 27% year-over-year, but down 7% from the previous quarter. Block is expected to report quarterly revenue of $6.50 billion, up 7.04% from the same quarter last year. in the first quarter but missed on the top line.The XYZ stock has a , implying a roughly 4% upside. Notably, five of the last six analyst ratings revised the price target upward. Read Also: SpaceX Reports $540 Million Losses on Bitcoin Holdings in Q2 — Elon Musk-Led Rocket Company Didn't Sell Any Can the Bulls Sustain Their Momentum?Short interest dropped from 20.3 million shares in June to 15.9 million in July, representing 3.5% of the company’s total float. A declining short interest is typically interpreted as a bullish signal.Meanwhile, the Moving Average Convergence Divergence indicator, which compares two exponential moving averages of an asset’s price, flashed a "Buy" signal for XYZ,  to TradingView.The Relative Strength Index indicated a “Neutral” stance, and the Bull Bear Power indicator similarly pointed to a balanced market.The stock has rallied strongly over the short and medium term, posting an impressive 30% gain so far this year.AssetBlock Inc (XYZ)1-Month Gains +/-+7.25%Year-to-date Gains +/-+30.54%1-Year Gains +/-+12.42%‘Buzz’ GrowsThe Jack Dorsey-led firm has placed a significant bet on Bitcoin’s utility as a medium of exchange, deploying Bitcoin payment capabilities within its Square point-of-sale system. The feature lets merchants accept BTC payments with no processing fees until 2027.As of this writing, Block holds 9,032 BTC, worth $581 million, on its balance sheet, ranking as the 15th-largest corporate holder of the apex cryptocurrency, according to BitcoinTreasuries.net.The firm also rolled out an updated version of its hardware Bitcoin (CRYPTO: BTC) wallet, BitKey, last quarter. It comes with a secure touchscreen and uses 2-of-3 multisig technology, eliminating seed phrases.Lately, Block has piqued interest with the launch of Buzz, a new Slack-like platform where humans and AI agents work together in the same workspace.Price Action: At the time of writing, BTC was exchanging hands at $61,237.57, up 3.42% in the last 24 hours, according to data from Benzinga Pro.Block shares fell 0.63% in after-hours trading after closing 3.11% higher at $84.64 during Tuesday’s regular trading session.XYZ stock shows a stronger price trend across short-, medium-, and long-term periods, according to Benzinga’s Edge Stock Rankings.https://www.benzinga.com/quote/XYZ Read Also: Bitcoin Coils Between $58,000 And $67,000 for 8 Weeks: Which Way Does It Break? Photo by Frederic Legrand – COMEO on Shutterstock