Block (NYSE:XYZ) Given Buy Rating at BTIG Research

Block (NYSE:XYZ)‘s stock had its “buy” rating reiterated by BTIG Research in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $100.00 price objective on the technology company’s stock. BTIG Research‘s target price would suggest a potential upside of 34.53% from the company’s current price.

Other analysts also recently issued reports about the stock. Wolfe Research upped their price objective on shares of Block from $100.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, August 25th. Canaccord Genuity Group lifted their target price on shares of Block from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Citigroup upped their price target on Block from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Piper Sandler increased their price objective on Block from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Finally, Truist Financial lowered their price objective on shares of Block from $93.00 to $89.00 and set a “buy” rating on the stock in a research note on Friday. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Block currently has an average rating of “Moderate Buy” and a consensus target price of $95.61.

Block Trading Down 0.7%

Shares of NYSE XYZ traded down $0.54 during trading hours on Wednesday, hitting $74.34. The stock had a trading volume of 387,797 shares, compared to its average volume of 6,104,942. The firm’s 50-day moving average price is $78.24 and its two-hundred day moving average price is $70.99. Block has a 52 week low of $48.21 and a 52 week high of $86.92.

Block (NYSE:XYZ) last posted its earnings results on Wednesday, August 5th. The technology company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.48 by $0.54. The business had revenue of $6.62 billion for the quarter. Block’s revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.62 earnings per share. 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, research analysts predict that Block will post 2.74 earnings per share for the current fiscal year.

Insider Activity at Block

In related news, Director Anthony Eisen sold 6,000 shares of the stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $75.76, for a total transaction of $454,560.00. Following the completion of the sale, the director owned 1,224,672 shares in the company, valued at $92,781,150.72. This trade represents a 0.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 314,565 shares of company stock valued at $25,301,466. 11.37% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Block

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. NovaPoint Capital LLC increased its holdings 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 buying an additional 137 shares in the last quarter. Raiffeisen Bank International AG boosted its holdings in shares of Block by 0.3% in the 2nd quarter. Raiffeisen Bank International AG now owns 44,901 shares of the technology company’s stock worth $3,503,000 after acquiring an additional 148 shares in the last quarter. Ashton Thomas Securities LLC boosted its holdings in shares of Block by 2.8% in the 3rd quarter. Ashton Thomas Securities LLC now owns 5,885 shares of the technology company’s stock worth $433,000 after acquiring an additional 160 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in Block by 1.5% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 11,888 shares of the technology company’s stock worth $874,000 after acquiring an additional 175 shares during the last quarter. Finally, Avior Wealth Management LLC grew its position in Block by 3.3% during the 2nd quarter. Avior Wealth Management LLC now owns 6,081 shares of the technology company’s stock worth $462,000 after acquiring an additional 193 shares during the last quarter. 70.44% of the stock is currently owned by institutional investors and hedge funds.

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.