Block (NYSE:XYZ) Price Target Raised to $106.00

Block (NYSE:XYZ) had its target price raised by Robert W. Baird from $105.00 to $106.00 in a research note issued to investors on Friday morning, MarketBeat reports. They currently have an outperform rating on the technology company’s stock.

A number of other research firms also recently commented on XYZ. Clear Str upgraded Block to a “hold” rating in a research report on Thursday, July 16th. Morgan Stanley restated an “overweight” rating on shares of Block in a research report on Wednesday, August 5th. Craig Hallum began coverage on shares of Block in a research note on Tuesday, June 30th. They set a “buy” rating on the stock. Weiss Ratings raised shares of Block from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. Finally, Wolfe Research increased their price objective on shares of Block from $100.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, August 25th. Four investment 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.45.

Block Price Performance

NYSE:XYZ opened at $74.33 on Friday. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $44.65 billion, a P/E ratio of 132.72, a P/E/G ratio of 0.78 and a beta of 2.55. Block has a 12 month low of $48.21 and a 12 month high of $86.92. The business’s 50-day moving average is $79.79 and its 200 day moving average is $73.74.

Block (NYSE:XYZ) last announced its quarterly earnings results on Wednesday, August 5th. The technology company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.54. The company had revenue of $6.62 billion during the quarter. Block had a return on equity of 8.10% and a net margin of 1.43%.Block’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $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, equities research analysts forecast that Block will post 2.74 earnings per share for the current fiscal year.

Insider Transactions at Block

In related news, CFO Amrita Ahuja sold 9,511 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $82.43, for a total value of $783,991.73. Following the completion of the sale, the chief financial officer directly owned 423,262 shares in the company, valued at $34,889,486.66. This trade represents a 2.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brian Grassadonia sold 25,908 shares of Block stock in a transaction on Monday, August 3rd. The stock was 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 of the company’s stock, valued at $43,411,743.44. The trade was a 4.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 290,565 shares of company stock worth $23,547,966. 11.37% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. CX Institutional raised its stake in shares of Block by 6.2% in the third quarter. CX Institutional now owns 7,972 shares of the technology company’s stock valued at $586,000 after acquiring an additional 468 shares during the period. Versant Capital Management Inc boosted its stake in shares of Block by 13.6% during the 3rd quarter. Versant Capital Management Inc now owns 7,617 shares of the technology company’s stock worth $560,000 after purchasing an additional 914 shares during the period. QRG Capital Management Inc. boosted its stake in shares of Block by 13.9% during the 2nd quarter. QRG Capital Management Inc. now owns 122,158 shares of the technology company’s stock worth $9,284,000 after purchasing an additional 14,887 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Block by 10.9% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,901 shares of the technology company’s stock worth $524,000 after purchasing an additional 676 shares during the period. Finally, Sequoia Financial Advisors LLC grew its holdings in Block by 5.7% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 15,836 shares of the technology company’s stock valued at $1,204,000 after purchasing an additional 857 shares during the last quarter. Institutional investors own 70.44% of the company’s stock.

About Block

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.