Block (NYSE:XYZ) Earns Outperform Rating from Royal Bank Of Canada

Block (NYSE:XYZ)‘s stock had its “outperform” rating reiterated by Royal Bank Of Canada in a note issued to investors on Wednesday, Benzinga reports. They currently have a $95.00 price objective on the technology company’s stock. Royal Bank Of Canada‘s price objective would indicate a potential upside of 20.45% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. Craig Hallum began coverage on Block in a report on Tuesday, June 30th. They set a “buy” rating on the stock. BMO Capital Markets increased their target price on Block from $78.00 to $85.00 and gave the stock a “market perform” rating in a report on Wednesday, July 22nd. Benchmark upgraded Block to a “strong-buy” rating in a report on Thursday, September 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $95.00 target price on shares of Block in a report on Friday, September 25th. Finally, Rosenblatt Securities set a $100.00 target price on Block in a report on Tuesday, June 30th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.55.

Block Trading Up 1.0%

Shares of Block stock traded up $0.77 on Wednesday, reaching $78.87. 613,366 shares of the company’s stock were exchanged, compared to its average volume of 6,149,422. The company has a market capitalization of $47.39 billion, a P/E ratio of 140.93, a price-to-earnings-growth ratio of 0.81 and a beta of 2.55. Block has a 52 week low of $48.21 and a 52 week high of $86.92. The firm’s 50-day moving average is $78.72 and its two-hundred day moving average is $75.26. 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 posted its quarterly earnings results on Wednesday, August 5th. The technology company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.54. The firm 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%. Block’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter 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. Sell-side analysts predict that Block will post 2.74 EPS for the current fiscal year.

Insider Buying and Selling

In other Block 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 transaction of $783,991.73. Following the transaction, the chief financial officer directly owned 423,262 shares in the company, valued at approximately $34,889,486.66. This trade represents a 2.20% decrease in their position. 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. Also, Director Anthony Eisen sold 41,000 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $85.85, for a total value of $3,519,850.00. Following the transaction, the director owned 1,566,672 shares in the company, valued at approximately $134,498,791.20. This trade represents a 2.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 308,565 shares of company stock worth $24,872,046 in the last ninety days. Corporate insiders own 11.37% of the company’s stock.

Hedge Funds Weigh In On Block

Large investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in Block during the 2nd quarter valued at about $621,703,000. Arrowstreet Capital Limited Partnership grew its holdings in Block by 528.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,309,296 shares of the technology company’s stock valued at $199,153,000 after buying an additional 2,782,523 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Block by 372.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 937,540 shares of the technology company’s stock valued at $71,253,000 after buying an additional 739,264 shares in the last quarter. Bank of America Corp DE purchased a new position in Block during the 2nd quarter valued at about $23,531,000. Finally, Engineers Gate Manager LP grew its holdings in Block by 2,575.4% during the 2nd quarter. Engineers Gate Manager LP now owns 571,414 shares of the technology company’s stock valued at $43,427,000 after buying an additional 550,056 shares in the last quarter. 70.44% of the stock is currently owned by institutional investors.

Block Company Profile

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.