Block’s (XYZ) Outperform Rating Reaffirmed at Royal Bank Of Canada

Block (NYSE:XYZ)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Royal Bank Of Canada in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $95.00 price objective on the technology company’s stock. Royal Bank Of Canada‘s target price would suggest a potential upside of 21.47% from the stock’s previous close.

Several other equities research analysts also recently weighed in on XYZ. Morgan Stanley reissued an “overweight” rating on shares of Block in a research note on Wednesday, August 5th. Wolfe Research boosted their target price on Block from $100.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, August 25th. Citigroup upped their target price on Block from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Clear Str upgraded Block to a “hold” rating in a report on Thursday, July 16th. Finally, Weiss Ratings raised Block from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.55.

Block Trading Up 0.1%

Shares of Block stock traded up $0.11 on Wednesday, reaching $78.21. The company had a trading volume of 2,821,249 shares, compared to its average volume of 6,160,642. The firm has a market cap of $46.99 billion, a price-to-earnings ratio of 139.65, a P/E/G ratio of 0.81 and a beta of 2.55. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.21 and a quick ratio of 2.21. The firm’s 50-day moving average price is $78.72 and its two-hundred day moving average price is $75.26. Block has a 1 year low of $48.21 and a 1 year high of $86.92.

Block (NYSE:XYZ) last issued 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 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%. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the business 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. As a group, research analysts predict that Block will post 2.74 earnings per share for the current fiscal year.

Insider Transactions at Block

In other Block news, Director Anthony Eisen sold 6,000 shares of the company’s stock in a transaction dated Monday, October 19th. The shares were sold at an average price of $78.58, for a total value of $471,480.00. Following the transaction, the director directly owned 1,254,672 shares in the company, valued at $98,592,125.76. This represents a 0.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 308,565 shares of company stock valued at $24,872,046. 11.37% of the stock is owned by insiders.

Institutional Trading of Block

Institutional investors and hedge funds have recently modified their holdings of the stock. Elevation Wealth Partners LLC increased its position in shares of Block by 301.0% during the second quarter. Elevation Wealth Partners LLC now owns 389 shares of the technology company’s stock worth $30,000 after purchasing an additional 292 shares in the last quarter. Global Assets Advisory LLC purchased a new stake in shares of Block during the 1st quarter valued at $31,000. Meeder Asset Management Inc. acquired a new stake in shares of Block in the 2nd quarter worth $46,000. Ancora Advisors LLC acquired a new stake in shares of Block in the 2nd quarter worth $53,000. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its position in shares of Block by 1,033.3% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 918 shares of the technology company’s stock worth $55,000 after purchasing an additional 837 shares in the last quarter. Institutional investors own 70.44% of the company’s stock.

About Block

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.