Block (NYSE:XYZ) Price Target Raised to $100.00

Block (NYSE:XYZ) had its price target upped by Canaccord Genuity Group from $85.00 to $100.00 in a research note released on Thursday morning, MarketBeat reports. Canaccord Genuity Group currently has a buy rating on the technology company’s stock.

Several other research firms also recently commented on XYZ. Royal Bank Of Canada boosted their target price on shares of Block from $93.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Truist Financial raised 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. Rosenblatt Securities set a $100.00 price objective on shares of Block in a research note on Tuesday, June 30th. BMO Capital Markets upped their price objective on shares of Block from $78.00 to $85.00 and gave the stock a “market perform” rating in a report on Wednesday, July 22nd. Finally, TD Cowen upped their price objective on shares of Block from $101.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Three analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, Block has an average rating of “Moderate Buy” and a consensus price target of $95.23.

Block Stock Down 0.4%

Shares of Block stock opened at $82.73 on Thursday. The firm has a market cap of $49.24 billion, a price-to-earnings ratio of 147.73, a P/E/G ratio of 0.94 and a beta of 2.53. The stock has a 50-day simple moving average of $77.57 and a 200-day simple moving average of $68.57. Block has a 52-week low of $48.21 and a 52-week high of $86.75. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.21 and a quick ratio of 2.21.

Block (NYSE:XYZ) last released its quarterly earnings data on Wednesday, August 5th. The technology company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.54. The firm had revenue of $6.62 billion for the quarter. Block had a return on equity of 8.10% and a net margin of 1.43%.The company’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter 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. On average, equities research analysts expect that Block will post 2.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Block

In other news, Director Anthony Mathew Eisen sold 135,750 shares of Block stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $76.81, for a total value of $10,426,957.50. Following the transaction, the director owned 2,032,990 shares of the company’s stock, valued at $156,153,961.90. This trade represents a 6.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Brian Grassadonia sold 43,348 shares of Block stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 557,654 shares in the company, valued at approximately $44,612,320. This represents a 7.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 459,179 shares of company stock worth $35,983,595 over the last 90 days. Insiders own 11.37% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of XYZ. BlackRock Inc. bought a new stake in Block during the second quarter valued at about $621,703,000. Capital World Investors increased its stake in shares of Block by 41.8% in the fourth quarter. Capital World Investors now owns 16,023,441 shares of the technology company’s stock worth $1,042,966,000 after purchasing an additional 4,727,217 shares during the period. Geode Capital Management LLC increased its stake in shares of Block by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 14,406,899 shares of the technology company’s stock worth $934,121,000 after purchasing an additional 67,560 shares during the period. Ameriprise Financial Inc. acquired a new position in shares of Block during the 2nd quarter worth about $535,305,000. Finally, Norges Bank acquired a new position in shares of Block during the 4th quarter worth about $484,387,000. Institutional investors own 70.44% of the company’s stock.

About Block

Block (NYSE:XYZ) is a financial technology company that builds products and services to facilitate electronic payments, commerce, and consumer finance. Its principal business lines include a seller-focused ecosystem that provides point-of-sale hardware and software, payment processing, invoicing, payroll and lending services, and a consumer-facing platform that offers peer-to-peer payments, banking-like features, and investing. Block’s portfolio also encompasses music streaming and buy-now-pay-later capabilities through businesses acquired to broaden its reach beyond core payments.

The company was founded as Square in 2009 by Jack Dorsey and Jim McKelvey and later rebranded to Block to reflect a diversified set of businesses across payments, consumer finance, and emerging technologies.