Block (NYSE:XYZ – Get Free Report) was upgraded by analysts at Benchmark to a “strong-buy” rating in a research report issued on Thursday, Zacks reports.
A number of other research firms have also commented on XYZ. Oppenheimer reiterated an “outperform” rating and set a $97.00 price target on shares of Block in a report on Thursday, August 6th. Jefferies Financial Group assumed coverage on shares of Block in a report on Tuesday, June 30th. They issued a “hold” rating on the stock. Piper Sandler boosted their price objective on shares of Block from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Morgan Stanley reaffirmed an “overweight” rating on shares of Block in a research note on Wednesday, August 5th. Finally, UBS Group increased their target price on shares of Block from $92.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $95.42.
Read Our Latest Research Report on XYZ
Block Price Performance
Block (NYSE:XYZ – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The technology company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.54. Block had a return on equity of 8.10% and a net margin of 1.43%.The firm had revenue of $6.62 billion during the quarter. During the same period last year, the company posted $0.62 EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. Block has set its FY 2026 guidance at 4.020-4.020 EPS and its Q3 2026 guidance at 1.020-1.020 EPS. Analysts forecast that Block will post 2.72 EPS for the current year.
Insider Activity at Block
In related news, insider Brian Grassadonia sold 43,348 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $80.00, for a total transaction of $3,467,840.00. Following the sale, the insider owned 557,654 shares of the company’s stock, valued at $44,612,320. The trade was a 7.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Amrita Ahuja sold 9,511 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $82.43, for a total transaction of $783,991.73. Following the completion of the sale, the chief financial officer owned 423,262 shares in the company, valued at approximately $34,889,486.66. This trade represents a 2.20% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 378,006 shares of company stock valued at $30,430,901 in the last three months. Company insiders own 11.37% of the company’s stock.
Institutional Trading of Block
Several hedge funds and other institutional investors have recently made changes to their positions in XYZ. Baird Financial Group Inc. bought a new position in Block during the 2nd quarter valued at approximately $1,866,000. Brown Advisory Inc. bought a new stake in Block in the second quarter worth $516,000. Jump Financial LLC purchased a new stake in shares of Block in the second quarter worth $385,000. Federated Hermes Inc. purchased a new stake in shares of Block in the second quarter worth $53,000. Finally, Cerity Partners LLC bought a new position in shares of Block during the second quarter valued at $1,861,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.
About Block
Block, Inc is a global technology company that develops financial services and commerce tools for businesses and consumers. Founded in 2009 as Square, the company changed its corporate name to Block in 2021 to reflect the expansion of its operations beyond seller-focused payment solutions.
Through its Square ecosystem, Block provides payment processing, point-of-sale hardware and software, business banking, invoicing, payroll, inventory management and other tools for merchants. Its consumer-focused Cash App offers services that may include peer-to-peer payments, money transfers, investing, debit-card access and bitcoin-related functionality, subject to availability and applicable regulations.
Block also owns Afterpay, a buy now, pay later platform, and has operated additional businesses involving music streaming and bitcoin infrastructure.
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