Block (NYSE:XYZ – Get Free Report) had its target price increased by stock analysts at BMO Capital Markets from $101.00 to $102.00 in a report issued on Tuesday. The firm currently has a “market perform” rating on the technology company’s stock. BMO Capital Markets‘s price target would indicate a potential upside of 18.37% from the stock’s current price.
Several other research analysts also recently commented on the stock. Wolfe Research lifted their price target on shares of Block from $100.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 25th. Morgan Stanley boosted their price objective on shares of Block from $80.00 to $82.00 and gave the stock an “equal weight” rating in a report on Wednesday. UBS Group set a $96.00 price objective on shares of Block and gave the company a “buy” rating in a research note on Thursday, October 15th. Citigroup raised shares of Block from a “buy” rating to an “outperform” rating in a report on Tuesday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Block in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.92.
View Our Latest Research Report on XYZ
Block Price Performance
Shares of NYSE XYZ traded up $2.13 during trading hours on Tuesday, reaching $86.17. 2,838,564 shares of the stock traded hands, compared to its average volume of 6,191,620. The company’s 50-day simple moving average is $77.90 and its two-hundred day simple moving average is $71.39. The company has a market capitalization of $51.77 billion, a P/E ratio of 116.24, a price-to-earnings-growth ratio of 0.92 and a beta of 2.58. Block has a 52-week low of $48.21 and a 52-week high of $88.51. The company has a quick ratio of 2.21, a current ratio of 2.23 and a debt-to-equity ratio of 0.25.
Block (NYSE:XYZ – Get Free Report) last issued its earnings results on Tuesday, November 3rd. The technology company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.45. The business had revenue of $6.72 billion during the quarter. Block had a return on equity of 9.63% and a net margin of 1.80%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.54 EPS. Equities research analysts forecast that Block will post 2.75 EPS for the current year.
Insiders Place Their Bets
In related news, Director Anthony Eisen sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $74.44, for a total value of $446,640.00. Following the sale, the director directly owned 1,212,672 shares of the company’s stock, valued at $90,271,303.68. This trade represents a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 226,686 shares of company stock worth $17,861,807. Corporate insiders own 11.37% of the company’s stock.
Hedge Funds Weigh In On Block
A number of institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp bought a new stake in shares of Block during the second quarter valued at approximately $366,000. PNC Financial Services Group Inc. grew its stake in Block by 35.7% in the first quarter. PNC Financial Services Group Inc. now owns 69,637 shares of the technology company’s stock worth $4,191,000 after purchasing an additional 18,326 shares during the period. Nilsine Partners LLC grew its stake in Block by 295.4% in the second quarter. Nilsine Partners LLC now owns 25,999 shares of the technology company’s stock worth $1,976,000 after purchasing an additional 19,423 shares during the period. Nykredit A S bought a new position in Block in the second quarter worth $13,291,000. Finally, Swiss National Bank raised its holdings in Block by 6.7% in the first quarter. Swiss National Bank now owns 1,607,286 shares of the technology company’s stock worth $96,726,000 after purchasing an additional 101,300 shares in the last quarter. 70.44% of the stock is owned by institutional investors.
Block News Roundup
Here are the key news stories impacting Block this week:
- Positive Sentiment: Block’s third-quarter results beat expectations: earnings per share were $1.13 versus the $0.68 consensus, while revenue rose 9.9% year over year. Cash App lending and Square growth helped lift gross profit 22% to $3.24 billion, and the company raised its 2026 outlook. Shares recently reached a 52-week high following the results. Article: Block earnings lift outlook Article: Block Q3 earnings beat estimates
- Positive Sentiment: Several firms raised price targets, reinforcing optimism: Wells Fargo lifted its target to $110, TD Cowen to $109, Barclays and Argus to $105, and RBC to $103. Needham reiterated its Buy rating, while TD Cowen and Susquehanna also expressed expectations for further gains. Wells Fargo forecast Argus target increase Barclays target increase
- Positive Sentiment: Traders also purchased a large volume of Block call options, suggesting bullish positioning, though options activity can be speculative. Call options activity
- Neutral Sentiment: Morgan Stanley raised its target to $82 but maintained an Equal Weight rating; Scotiabank also kept a Sector Perform rating. Their views are more cautious than the broader cluster of Buy and Outperform calls.
- Negative Sentiment: Block is making its second round of job cuts this year, affecting employees in Cash App. The cuts may reduce costs, but the timing shortly after strong earnings could raise questions about staffing and business needs. Article: Block job cuts
About Block
Block, Inc is a financial technology company that provides payments, commerce, and financial services through an ecosystem of business and consumer products. Formerly known as Square, the company was co-founded by Jack Dorsey and Jim McKelvey and changed its corporate name to Block in 2021.
Its Square ecosystem serves businesses with point-of-sale hardware, payment processing, invoicing, payroll, inventory management, customer engagement, online commerce, and other software tools. Block also offers lending and other financial services to eligible business customers through Square-related products.
For consumers, Block operates Cash App, a mobile financial services platform that supports services such as peer-to-peer payments, money transfers, a Cash App Card, direct deposit, investing, and bitcoin transactions, subject to product and geographic availability.
Featured Articles
- Five stocks we like better than Block
- Duolingo’s User Growth Is Outpacing Bookings, But Is Its Strategy Paying Off?
- Block by Block: Cash App Builds a Stronger Foundation
- Arista Networks Cashes In on the AI Infrastructure Buildout
- Powering Up: Freeport-McMoRan’s $4.5B Copper Expansion
Receive News & Ratings for Block Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Block and related companies with MarketBeat.com's FREE daily email newsletter.
