Block (NYSE:XYZ) Price Target Raised to $110.00

Block (NYSE:XYZ) had its price target increased by Susquehanna from $100.00 to $110.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a positive rating on the technology company’s stock.

XYZ has been the subject of a number of other reports. Citigroup raised Block from a “buy” rating to an “outperform” rating in a research note on Tuesday. UBS Group set a $96.00 price objective on Block and gave the stock a “buy” rating in a research note on Thursday, October 15th. Scotiabank began coverage on Block in a report on Wednesday, September 2nd. They issued a “sector perform” rating and a $82.00 price objective for the company. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $95.00 target price on shares of Block in a research note on Wednesday, October 21st. Finally, Clear Str raised Block to a “hold” rating in a research note on Thursday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Block presently has an average rating of “Moderate Buy” and a consensus price target of $98.36.

Block Price Performance

Shares of Block stock traded up $1.54 on Wednesday, hitting $85.58. The company had a trading volume of 7,756,635 shares, compared to its average volume of 4,670,644. The business has a 50-day simple moving average of $77.92 and a 200-day simple moving average of $71.50. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.21 and a quick ratio of 2.21. The company has a market cap of $51.42 billion, a PE ratio of 115.65, a PEG ratio of 0.81 and a beta of 2.58. Block has a 52 week low of $48.21 and a 52 week high of $88.51.

Block (NYSE:XYZ) last announced its earnings results on Tuesday, November 3rd. The technology company reported $1.13 EPS for the quarter, topping the consensus estimate of $0.68 by $0.45. Block had a return on equity of 8.10% and a net margin of 1.43%. The firm had revenue of $6.72 billion for the quarter. During the same period in the previous year, the firm earned $0.54 EPS. Block’s revenue for the quarter was up 9.9% on a year-over-year basis. Research analysts expect that Block will post 2.75 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Anthony Eisen sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $87.50, for a total transaction of $3,062,500.00. Following the completion of the sale, the director directly owned 1,177,672 shares in the company, valued at approximately $103,046,300. This trade represents a 2.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 261,686 shares of company stock worth $20,924,307 over the last ninety days. 11.37% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Block during the 2nd quarter valued at $621,703,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Block by 528.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,309,296 shares of the technology company’s stock worth $199,153,000 after acquiring an additional 2,782,523 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Block by 18.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,194,419 shares of the technology company’s stock worth $234,886,000 after acquiring an additional 494,083 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Block by 1.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,147,988 shares of the technology company’s stock worth $189,353,000 after acquiring an additional 39,112 shares during the last quarter. Finally, Hyperion Asset Management Ltd grew its holdings in shares of Block by 6.9% in the 2nd quarter. Hyperion Asset Management Ltd now owns 2,682,854 shares of the technology company’s stock worth $203,897,000 after acquiring an additional 172,848 shares during the last quarter. Institutional investors own 70.44% of the company’s stock.

Key Stories Impacting Block

Here are the key news stories impacting Block this week:

• Positive Sentiment: Several firms raised price targets, reinforcing expectations for further gains. UBS lifted its target to $105, Raymond James to $100 while maintaining an “outperform” rating, and BMO to $102 with a “market perform” rating. Wells Fargo raised its target to $110 and Barclays to $105, both with “overweight” ratings; Argus raised its target to $105 and maintained “buy.” UBS rating Raymond James rating BMO target update Wells Fargo rating Barclays rating Argus rating
• Positive Sentiment: Block reported better-than-expected earnings, with quarterly EPS of $1.13 versus the $0.68 consensus and revenue growth of 9.9% year over year. Shares subsequently reached a 52-week high, and traders bought a large volume of call options—signals of favorable investor expectations. Earnings and 52-week high Call options activity
• Neutral Sentiment: Rothschild & Co Redburn raised its target from $75 to $85 but kept a “neutral” rating, putting its estimate close to the recent share price. Redburn target update
• Negative Sentiment: Block reportedly made another round of job cuts this year, affecting employees in its Cash App businesses. The reductions may raise concerns about execution or operating pressures despite the recent earnings beat. Report on Block job cuts

Block Company Profile

Block, Inc is a financial technology company that provides payment and commerce tools to businesses and financial services for consumers. Its products include Square, a platform offering payment processing, point-of-sale software and related business services, and Cash App, which provides person-to-person payments and other financial features.

The company also owns Afterpay, a buy-now, pay-later service, and TIDAL, a music and entertainment platform. Block serves businesses and consumers in the United States and other markets, with product availability varying by country.

Founded in 2009 as Square by Jack Dorsey and Jim McKelvey, the company adopted the name Block in 2021.