Block (NYSE:XYZ) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Block (NYSE:XYZ) had its price target increased by research analysts at Canaccord Genuity Group from $85.00 to $100.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Canaccord Genuity Group’s price target would suggest a potential upside of 20.25% from the stock’s previous close.

A number of other analysts have also issued reports on XYZ. Barclays began coverage on Block in a report on Tuesday, July 7th. They issued an “overweight” rating and a $100.00 target price for the company. Weiss Ratings upgraded Block from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft raised Block to a “buy” rating in a research report on Tuesday, June 30th. Robert W. Baird set a $105.00 price objective on Block in a research note on Thursday, August 6th. Finally, Argus lifted 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. Three research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $95.23.

Block Trading Up 6.2%

Shares of XYZ stock traded up $4.88 during trading hours on Thursday, reaching $83.16. 5,222,863 shares of the stock traded hands, compared to its average volume of 6,775,140. Block has a 1-year low of $48.21 and a 1-year high of $86.75. The business has a fifty day moving average price of $77.03 and a 200 day moving average price of $68.35. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $49.50 billion, a PE ratio of 148.50, a PEG ratio of 0.96 and a beta of 2.53.

Block (NYSE:XYZ) last issued its quarterly earnings results on Wednesday, August 5th. The technology company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.48 by $0.54. Block had a net margin of 1.43% and a return on equity of 8.10%. The business had revenue of $6.62 billion during the quarter. During the same quarter last year, the company posted $0.62 EPS. The firm’s revenue 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. On average, equities research analysts forecast that Block will post 2.49 EPS for the current year.

Insider Buying and Selling at Block

In other news, insider Brian Grassadonia sold 25,908 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $81.64, for a total transaction of $2,115,129.12. Following the transaction, the insider directly owned 531,746 shares in the company, valued at $43,411,743.44. The trade was a 4.65% decrease in their position. 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, Director Anthony Mathew Eisen sold 6,000 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $78.47, for a total transaction of $470,820.00. Following the completion of the transaction, the director directly owned 1,548,672 shares in the company, valued at $121,524,291.84. This trade represents a 0.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 447,179 shares of company stock valued at $35,014,655 in the last quarter. Company insiders own 11.37% of the company’s stock.

Institutional Investors Weigh In On Block

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allstate Corp increased its position in Block by 91.9% during the fourth quarter. Allstate Corp now owns 39,281 shares of the technology company’s stock worth $2,557,000 after buying an additional 18,812 shares during the last quarter. Moran Wealth Management LLC lifted its position in shares of Block by 37.3% in the fourth quarter. Moran Wealth Management LLC now owns 57,651 shares of the technology company’s stock worth $3,753,000 after buying an additional 15,670 shares during the last quarter. National Pension Service boosted its stake in shares of Block by 8.4% during the 4th quarter. National Pension Service now owns 833,124 shares of the technology company’s stock worth $54,228,000 after acquiring an additional 64,674 shares in the last quarter. Hsbc Holdings PLC boosted its stake in shares of Block by 7.2% during the 4th quarter. Hsbc Holdings PLC now owns 1,223,824 shares of the technology company’s stock worth $79,749,000 after acquiring an additional 82,446 shares in the last quarter. Finally, Mawer Investment Management Ltd. acquired a new position in shares of Block during the 4th quarter valued at about $3,062,000. 70.44% of the stock is owned by hedge funds and other institutional investors.

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.