Block (NYSE:XYZ) Given Outperform Rating at Royal Bank Of Canada

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

A number of other brokerages have also issued reports on XYZ. Oppenheimer reaffirmed an “outperform” rating and set a $97.00 target price on shares of Block in a research report on Thursday, August 6th. Canaccord Genuity Group boosted their target price on Block from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. William Blair lowered Block to a “market perform” rating in a research report on Tuesday, June 30th. Craig Hallum started coverage on Block in a research report on Tuesday, June 30th. They set a “buy” rating on the stock. Finally, Robert W. Baird boosted their target price on Block from $105.00 to $106.00 and gave the stock an “outperform” rating in a research report on Friday, October 2nd. Four research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $95.55.

Block Price Performance

Shares of XYZ traded up $0.11 during midday trading on Wednesday, reaching $78.21. The stock had a trading volume of 2,821,042 shares, compared to its average volume of 6,160,633. Block has a 52 week low of $48.21 and a 52 week high of $86.92. 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 200-day moving average price is $75.26. The company has a market capitalization of $46.99 billion, a P/E ratio of 139.65, a P/E/G ratio of 0.81 and a beta of 2.55.

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, topping analysts’ consensus estimates of $0.48 by $0.54. The company 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%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period last year, the firm 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. On average, analysts forecast that Block will post 2.74 earnings per share for the current fiscal year.

Insider Activity at Block

In other Block news, insider Brian Grassadonia sold 25,908 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $81.64, for a total value of $2,115,129.12. Following the transaction, the insider owned 531,746 shares in the company, valued at $43,411,743.44. The trade was a 4.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 business’s stock in a transaction dated 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 completion of the transaction, the director owned 1,566,672 shares in the company, valued at $134,498,791.20. This trade represents a 2.55% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 308,565 shares of company stock valued at $24,872,046. Company insiders own 11.37% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Raiffeisen Bank International AG raised its holdings in Block by 0.3% in the 2nd quarter. Raiffeisen Bank International AG now owns 44,901 shares of the technology company’s stock valued at $3,503,000 after acquiring an additional 148 shares in the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of Block by 1.5% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 11,888 shares of the technology company’s stock worth $874,000 after buying an additional 175 shares in the last quarter. Avior Wealth Management LLC grew its position in Block by 3.3% during the 2nd quarter. Avior Wealth Management LLC now owns 6,081 shares of the technology company’s stock worth $462,000 after acquiring an additional 193 shares during the last quarter. Carson Advisory Inc. grew its position 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 acquiring an additional 200 shares during the last quarter. Finally, World Investment Advisors boosted its position in Block by 8.1% in the 1st quarter. World Investment Advisors now owns 3,825 shares of the technology company’s stock valued at $230,000 after buying an additional 287 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 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.