BTIG Research Reaffirms Buy Rating for Block (NYSE:XYZ)

Block (NYSE:XYZ)‘s stock had its “buy” rating reiterated by equities researchers at BTIG Research in a research report issued on Friday, Benzinga reports. They presently have a $100.00 price objective on the technology company’s stock. BTIG Research’s price target points to a potential upside of 36.39% from the company’s current price.

XYZ has been the topic of a number of other reports. BMO Capital Markets increased their price objective on Block from $78.00 to $85.00 and gave the company a “market perform” rating in a research report on Wednesday, July 22nd. Argus increased their price target on Block from $86.00 to $103.00 and gave the company a “buy” rating in a research note on Friday, August 7th. TD Cowen increased their price target on Block from $101.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Scotiabank assumed coverage on Block in a research note on Wednesday, September 2nd. They issued a “sector perform” rating and a $82.00 price target on the stock. Finally, Wolfe Research increased their price target on Block from $100.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, August 25th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Block currently has an average rating of “Moderate Buy” and an average price target of $95.42.

Block Price Performance

Shares of XYZ stock traded down $3.10 during trading hours on Friday, hitting $73.32. The company had a trading volume of 5,520,653 shares, compared to its average volume of 6,313,205. Block has a 12 month low of $48.21 and a 12 month high of $86.92. The firm has a market capitalization of $44.05 billion, a price-to-earnings ratio of 130.93, a PEG ratio of 0.80 and a beta of 2.52. The firm’s fifty day moving average is $80.09 and its 200 day moving average is $73.37. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.21 and a current ratio of 2.21.

Block (NYSE:XYZ) last released its quarterly earnings results 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 business 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 firm’s revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the company 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, sell-side analysts predict that Block will post 2.74 EPS for the current fiscal year.

Insider Buying and Selling at Block

In other news, Director Anthony Eisen sold 6,000 shares of Block stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $75.20, for a total value of $451,200.00. Following the completion of the sale, the director directly owned 1,344,672 shares in the company, valued at approximately $101,119,334.40. The trade was a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 375,913 shares of company stock valued at $30,374,726 in the last three months. 11.37% of the stock is currently owned by insiders.

Institutional Trading of Block

Hedge funds and other institutional investors have recently modified their holdings of the stock. Capital World Investors grew its stake 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 buying an additional 4,727,217 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Block in the second quarter worth $621,703,000. Norges Bank bought a new stake in shares of Block in the fourth quarter worth $484,387,000. Contour Asset Management LLC grew its stake in shares of Block by 30.4% in the fourth quarter. Contour Asset Management LLC now owns 4,666,891 shares of the technology company’s stock worth $303,768,000 after purchasing an additional 1,088,299 shares during the last quarter. Finally, Hyperion Asset Management Ltd grew its stake in shares of Block by 6.9% in the second quarter. Hyperion Asset Management Ltd now owns 2,682,854 shares of the technology company’s stock worth $203,897,000 after purchasing an additional 172,848 shares during the last quarter. Institutional investors own 70.44% of the company’s stock.

Block Company Profile

Block, Inc is a global technology company that develops financial services and commerce tools for businesses and consumers. Founded in 2009 as Square, the company changed its corporate name to Block in 2021 to reflect the expansion of its operations beyond seller-focused payment solutions.

Through its Square ecosystem, Block provides payment processing, point-of-sale hardware and software, business banking, invoicing, payroll, inventory management and other tools for merchants. Its consumer-focused Cash App offers services that may include peer-to-peer payments, money transfers, investing, debit-card access and bitcoin-related functionality, subject to availability and applicable regulations.

Block also owns Afterpay, a buy now, pay later platform, and has operated additional businesses involving music streaming and bitcoin infrastructure.