Royal Bank Of Canada Reaffirms Outperform Rating for Block (NYSE:XYZ)

Block (NYSE:XYZ)‘s stock had its “outperform” rating reissued by investment analysts at Royal Bank Of Canada in a research report issued on Wednesday, Benzinga reports. They presently have a $95.00 price target on the technology company’s stock. Royal Bank Of Canada‘s price target indicates a potential upside of 21.47% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Canaccord Genuity Group lifted their price target on Block from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. BMO Capital Markets upped their price objective on shares of Block from $78.00 to $85.00 and gave the company a “market perform” rating in a research note on Wednesday, July 22nd. Scotiabank assumed coverage on shares of Block in a report on Wednesday, September 2nd. They issued a “sector perform” rating and a $82.00 target price for the company. BTIG Research reissued a “buy” rating and issued a $100.00 target price on shares of Block in a research report on Friday, September 25th. Finally, Robert W. Baird raised their price objective on shares of Block from $105.00 to $106.00 and gave the stock an “outperform” rating in a research note on Friday, October 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $96.06.

Block Stock Up 0.1%

XYZ stock opened at $78.21 on Wednesday. The company has a market capitalization of $46.99 billion, a P/E ratio of 139.65, a PEG ratio of 0.81 and a beta of 2.55. The firm has a 50 day simple moving average of $78.72 and a 200-day simple moving average of $75.39. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.26. Block has a twelve month low of $48.21 and a twelve month high of $86.92.

Block (NYSE:XYZ) last issued its earnings results on Wednesday, August 5th. The technology company reported $1.02 EPS for the quarter, topping the consensus estimate 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 in the previous year, the business posted $0.62 EPS. Block’s revenue was up 9.3% compared to the same quarter last year. 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 predict that Block will post 2.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Block

In related news, Director Anthony Eisen sold 6,000 shares of Block stock in a transaction dated Monday, October 19th. The stock was sold at an average price of $78.58, for a total value of $471,480.00. Following the completion of the sale, the director directly owned 1,254,672 shares in the company, valued at $98,592,125.76. This trade represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 308,565 shares of company stock worth $24,872,046 in the last ninety days. Insiders own 11.37% of the company’s stock.

Hedge Funds Weigh In On Block

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Raiffeisen Bank International AG boosted its position in shares of Block by 0.3% in the 2nd quarter. Raiffeisen Bank International AG now owns 44,901 shares of the technology company’s stock worth $3,503,000 after purchasing an additional 148 shares during the last quarter. Crossmark Global Holdings Inc. increased its holdings in shares of Block by 1.5% in the third quarter. Crossmark Global Holdings Inc. now owns 11,888 shares of the technology company’s stock worth $874,000 after acquiring an additional 175 shares in the last quarter. Avior Wealth Management LLC raised its position in shares of Block by 3.3% during the second quarter. Avior Wealth Management LLC now owns 6,081 shares of the technology company’s stock worth $462,000 after purchasing an additional 193 shares during the period. Carson Advisory Inc. increased its stake in Block by 2.6% during the 1st quarter. Carson Advisory Inc. now owns 8,035 shares of the technology company’s stock worth $484,000 after purchasing an additional 200 shares in the last quarter. Finally, World Investment Advisors raised its holdings in Block by 8.1% during the 1st quarter. World Investment Advisors now owns 3,825 shares of the technology company’s stock worth $230,000 after buying an additional 287 shares during the period. 70.44% of the stock is owned by institutional investors.

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.