Block (NYSE:XYZ) Earns Buy Rating from BTIG Research

Block (NYSE:XYZ)‘s stock had its “buy” rating reiterated by BTIG Research in a research report issued on Friday, Benzinga reports. They currently have a $100.00 price objective on the technology company’s stock. BTIG Research’s price objective would suggest a potential upside of 30.68% from the company’s previous close.

XYZ has been the topic of a number of other reports. Monness Crespi & Hardt boosted their price target on Block from $115.00 to $125.00 and gave the company a “buy” rating in a report on Friday, August 7th. The Goldman Sachs Group raised Block from a “buy” rating to a “buy” rating in a research report on Tuesday, June 30th. Craig Hallum started coverage on Block in a research note on Tuesday, June 30th. They issued a “buy” rating on the stock. Susquehanna upped their price target on Block from $90.00 to $100.00 and gave the stock a “positive” rating in a research report on Thursday, August 6th. Finally, Canaccord Genuity Group raised their price target on shares of Block from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $95.42.

Block Trading Up 0.1%

Shares of NYSE XYZ opened at $76.52 on Friday. The company’s 50 day simple moving average is $80.22 and its 200 day simple moving average is $73.32. Block has a fifty-two week low of $48.21 and a fifty-two week high of $86.92. The firm has a market capitalization of $45.97 billion, a P/E ratio of 136.64, a P/E/G ratio of 0.80 and a beta of 2.52. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.21 and a quick ratio of 2.21.

Block (NYSE:XYZ) last announced its quarterly earnings data on Wednesday, August 5th. The technology company reported $1.02 EPS for the quarter, topping 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 business had revenue of $6.62 billion during the quarter. During the same period last year, the firm earned $0.62 earnings per share. The firm’s revenue for the quarter 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. On average, analysts predict that Block will post 2.74 EPS for the current year.

Insider Activity

In other news, Director Anthony Eisen sold 6,000 shares of the stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $76.67, for a total value of $460,020.00. Following the completion of the sale, the director 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 filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 363,913 shares of company stock worth $29,462,126. Corporate insiders own 11.37% of the company’s stock.

Hedge Funds Weigh In On Block

Institutional investors have recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC lifted its stake in Block by 301.0% in the second quarter. Elevation Wealth Partners LLC now owns 389 shares of the technology company’s stock valued at $30,000 after acquiring an additional 292 shares during the last quarter. Global Assets Advisory LLC bought a new position in shares of Block in the 1st quarter valued at about $31,000. Osbon Capital Management LLC acquired a new position in shares of Block during the 4th quarter worth about $43,000. Ancora Advisors LLC bought a new stake in shares of Block in the 2nd quarter valued at about $53,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Block by 33.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 707 shares of the technology company’s stock valued at $46,000 after purchasing an additional 179 shares during the period. 70.44% of the stock is currently owned by institutional investors and hedge funds.

Block Company Profile

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.