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

Block (NYSE:XYZ)‘s stock had its “buy” rating reissued by analysts at BTIG Research in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $100.00 target price on the technology company’s stock. BTIG Research’s price target suggests a potential upside of 35.08% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Citigroup increased their price objective on Block from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Scotiabank began coverage on Block in a research report on Wednesday, September 2nd. They set a “sector perform” rating and a $82.00 price objective for the company. Deutsche Bank Aktiengesellschaft upgraded Block to a “buy” rating in a research report on Tuesday, June 30th. Needham & Company LLC increased their price objective on Block from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $95.00 price objective on shares of Block in a research report on Friday, September 25th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.42.

Block Price Performance

XYZ traded up $0.50 during trading on Friday, reaching $74.03. The stock had a trading volume of 3,766,619 shares, compared to its average volume of 6,286,896. Block has a 1-year low of $48.21 and a 1-year high of $86.92. The stock has a 50 day moving average of $79.84 and a two-hundred day moving average of $73.64. The firm has a market capitalization of $44.48 billion, a price-to-earnings ratio of 132.20, a price-to-earnings-growth ratio of 0.77 and a beta of 2.52. 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 (NYSE:XYZ) last announced its quarterly earnings data on Wednesday, August 5th. The technology company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.54. Block had a return on equity of 8.10% and a net margin of 1.43%.The company had revenue of $6.62 billion during the quarter. During the same quarter last year, the company posted $0.62 EPS. Block’s revenue was up 9.3% on a year-over-year basis. 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, equities analysts anticipate that Block will post 2.74 EPS for the current fiscal year.

Insider Activity

In related news, Director Anthony Eisen sold 6,000 shares of the stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $74.33, for a total transaction of $445,980.00. Following the completion of the sale, the director directly owned 1,332,672 shares in the company, valued at approximately $99,057,509.76. This trade represents a 0.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 296,565 shares of company stock worth $24,020,586 in the last ninety days. 11.37% of the stock is currently owned by company insiders.

Institutional Trading of Block

Hedge funds and other institutional investors have recently modified their holdings of the company. Capital World Investors raised its holdings in shares of Block by 41.8% during the fourth quarter. Capital World Investors now owns 16,023,441 shares of the technology company’s stock worth $1,042,966,000 after acquiring an additional 4,727,217 shares in the last quarter. BlackRock Inc. acquired a new position in Block during the second quarter worth $621,703,000. Norges Bank acquired a new position in Block during the fourth quarter worth $484,387,000. Contour Asset Management LLC increased its position in Block by 30.4% during the fourth quarter. Contour Asset Management LLC now owns 4,666,891 shares of the technology company’s stock worth $303,768,000 after buying an additional 1,088,299 shares during the last quarter. Finally, Hyperion Asset Management Ltd increased its position in Block by 6.9% during the second quarter. Hyperion Asset Management Ltd now owns 2,682,854 shares of the technology company’s stock worth $203,897,000 after buying an additional 172,848 shares during the last quarter. 70.44% of the stock is currently owned by hedge funds and other institutional investors.

Block Company Profile

Block, Inc (NYSE:XYZ), formerly known as Square, is a financial technology company that develops tools for businesses, consumers and creators. Founded in 2009 by Jack Dorsey and Jim McKelvey, the company changed its corporate name to Block in 2021 to reflect the expansion of its operations beyond its original seller-payments business.

Block’s Square ecosystem provides payment processing, point-of-sale hardware and software, business banking, invoicing, payroll, inventory management and other services for merchants.