BMO Capital Markets upgraded shares of Block (NYSE:XYZ – Free Report) from a market perform rating to an outperform rating in a report published on Thursday, MarketBeat.com reports. BMO Capital Markets currently has $101.00 price target on the technology company’s stock.
Several other equities analysts also recently commented on the stock. Truist Financial upped their price target on shares of Block from $82.00 to $93.00 and gave the company a “buy” rating in a report on Friday, July 24th. Needham & Company LLC raised their price objective on shares of Block from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Monness Crespi & Hardt boosted their target price on Block from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Argus upped their target price on Block from $86.00 to $103.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, Canaccord Genuity Group increased their price target on Block from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Block currently has an average rating of “Moderate Buy” and an average target price of $95.94.
Read Our Latest Analysis on XYZ
Block Trading Down 3.3%
XYZ stock opened at $76.43 on Thursday. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.26. Block has a twelve month low of $48.21 and a twelve month high of $86.92. The stock has a market capitalization of $45.92 billion, a price-to-earnings ratio of 136.49, a price-to-earnings-growth ratio of 0.79 and a beta of 2.55. The firm’s fifty day simple moving average is $78.51 and its two-hundred day simple moving average is $75.53.
Block (NYSE:XYZ – Get Free Report) last announced its earnings results on Wednesday, August 5th. The technology company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.54. The business had revenue of $6.62 billion for the quarter. Block had a net margin of 1.43% and a return on equity of 8.10%. The company’s revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.62 EPS. Block has set its FY 2026 guidance at 4.020-4.020 EPS and its Q3 2026 guidance at 1.020-1.020 EPS. As a group, analysts anticipate that Block will post 2.75 earnings per share for the current year.
Insider Activity
In other news, Director Anthony Eisen sold 6,000 shares of the company’s stock in a transaction dated Wednesday, October 21st. The shares were sold at an average price of $79.07, for a total value of $474,420.00. Following the transaction, the director directly owned 1,242,672 shares in the company, valued at approximately $98,258,075.04. This represents a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 314,565 shares of company stock worth $25,346,466 over the last ninety days. 11.37% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Block
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kingswood Wealth Advisors LLC bought a new position in Block in the 3rd quarter worth about $247,000. Simplicity Wealth LLC increased its position in shares of Block by 16.0% during the third quarter. Simplicity Wealth LLC now owns 4,694 shares of the technology company’s stock worth $345,000 after acquiring an additional 646 shares during the period. Gibbs Wealth Management increased its position in shares of Block by 20.7% during the third quarter. Gibbs Wealth Management now owns 11,753 shares of the technology company’s stock worth $864,000 after acquiring an additional 2,019 shares during the period. Yousif Capital Management LLC increased its position in shares of Block by 1.6% during the third quarter. Yousif Capital Management LLC now owns 52,515 shares of the technology company’s stock worth $3,861,000 after acquiring an additional 806 shares during the period. Finally, NovaPoint Capital LLC increased its position in shares of Block by 3.9% during the third quarter. NovaPoint Capital LLC now owns 3,630 shares of the technology company’s stock worth $267,000 after acquiring an additional 137 shares during the period. Institutional investors own 70.44% of the company’s stock.
Block Company Profile
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.
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