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

Block (NYSE:XYZ)‘s stock had its “buy” rating reissued by equities research analysts at BTIG Research in a research report issued on Friday, Benzinga reports. They currently have a $100.00 price target on the technology company’s stock. BTIG Research’s price target indicates a potential upside of 35.09% from the company’s current price.

Several other research firms have also recently issued reports on XYZ. Craig Hallum assumed coverage on shares of Block in a research report on Tuesday, June 30th. They set a “buy” rating for the company. Needham & Company LLC increased their price objective on Block from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Weiss Ratings upgraded Block from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. Truist Financial increased their price objective on Block from $82.00 to $93.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, Keefe, Bruyette & Woods boosted their target price on Block from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Four 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 stock. According to MarketBeat.com, Block currently has an average rating of “Moderate Buy” and a consensus price target of $95.42.

Block Price Performance

Shares of NYSE:XYZ traded down $2.40 during midday trading on Friday, reaching $74.03. 1,999,773 shares of the company’s stock traded hands, compared to its average volume of 6,292,784. Block has a 1 year low of $48.21 and a 1 year high of $86.92. The company has a market cap of $44.47 billion, a P/E ratio of 132.20, a PEG ratio of 0.80 and a beta of 2.52. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.21 and a current ratio of 2.21. The company has a fifty day simple moving average of $80.22 and a two-hundred day simple moving average of $73.32.

Block (NYSE:XYZ) last announced its earnings results on Wednesday, August 5th. The technology company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.54. Block had a return on equity of 8.10% and a net margin of 1.43%.The firm had revenue of $6.62 billion for the quarter. During the same quarter last year, the business earned $0.62 EPS. The company’s quarterly revenue was up 9.3% on a year-over-year basis. Block has set its FY 2026 guidance at 4.020-4.020 EPS and its Q3 2026 guidance at 1.020-1.020 EPS. Equities analysts predict that Block will post 2.74 EPS for the current fiscal year.

Insider Activity at Block

In other news, Director Anthony Eisen sold 6,000 shares of the company’s stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $76.67, for a total transaction of $460,020.00. Following the completion of the transaction, the director directly owned 1,362,672 shares of the company’s stock, valued at approximately $104,476,062.24. This represents a 0.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 363,913 shares of company stock valued at $29,462,126. Corporate insiders own 11.37% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Elevation Wealth Partners LLC grew 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 acquiring an additional 292 shares during the last quarter. Global Assets Advisory LLC acquired a new stake in shares of Block during the first quarter worth about $31,000. Osbon Capital Management LLC acquired a new stake in shares of Block during the fourth quarter worth about $43,000. Ancora Advisors LLC acquired a new stake in shares of Block during the second quarter worth about $53,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Block by 33.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 707 shares of the technology company’s stock worth $46,000 after purchasing an additional 179 shares during the last quarter. Hedge funds and other institutional investors own 70.44% of the company’s stock.

About Block

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.