We recently published 10 Best SaaS Stocks Trading at a Discount.  Block, Inc. (NYSE:XYZ) is one of the best SaaS stocks trading at a discount. Block, Inc. (NYSE:XYZ) is a well-known payments processing and financial technology company. Over the past couple of weeks, the firm has been at the center of attention of several analysts. For instance, on December 8th, TD Cowen kept a Buy rating on the stock and kept a $91 share price target for the firm. It called Block, Inc. (NYSE:XYZ) a “Best Idea for 2026,” d ...

Company Initiatives - Block's CEO Jack Dorsey is shipping the world's first open-source modular bitcoin miner 'Proto Rig' [1] Industry Focus - The initiative highlights a focus on Bitcoin mining within the cryptocurrency industry [1]

Market Trends - Crypto exchange Kraken launched Krak, a peer-to-peer payments app to compete with CashApp and Venmo [1]

Core Points - Block, Jack Dorsey's financial technology company, plans to lay off nearly 1,000 employees and make significant operational changes, marking its second major workforce reduction in just over a year [1][2] - The layoffs will affect over 930 employees, with nearly 200 managers transitioning to non-management roles and around 800 open positions being closed [2] - Dorsey emphasized that these changes are not aimed at achieving specific financial targets or replacing staff with AI, but rather to enhance performance and streamline operations [4][5] Company Operations - Block operates several payment platforms, including Square and Afterpay, as well as the money transfer app CashApp and the music streaming service Tidal [3] - The company has implemented a headcount maximum of 12,000 employees as part of a previous reorganization that also resulted in approximately 1,000 job losses [4] Financial Performance - Block's stock has decreased by 29% this year, with revenue and profit growth slowing, raising concerns among shareholders [6] - Dorsey noted that part of his role is to increase the company's stock value, and the current reorganization is intended to improve focus and execution [6] Industry Context - Dorsey highlighted the need for the company to move faster in response to the transformational changes within the industry to enhance access, openness, and automation [7]