Block (NYSE:XYZ) Stock Price Target Raised at Susquehanna

Block (NYSE:XYZ) had its target price increased by Susquehanna from $100.00 to $110.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “positive” rating on the technology company’s stock. Susquehanna‘s target price would indicate a potential upside of 45.18% from the company’s current price.

A number of other equities research analysts have also recently commented on XYZ. TD Cowen lifted their price objective on Block from $101.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Argus upped their price objective on Block from $86.00 to $103.00 and gave the company a “buy” rating in a report on Friday, August 7th. Citigroup raised Block from a “buy” rating to an “outperform” rating in a research note on Tuesday. BTIG Research restated a “buy” rating and set a $100.00 target price on shares of Block in a report on Wednesday, October 28th. Finally, BMO Capital Markets restated a “hold” rating on shares of Block in a research report on Tuesday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $97.13.

Block Trading Down 1.7%

Shares of NYSE XYZ opened at $75.77 on Wednesday. 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 $45.52 billion, a P/E ratio of 135.30, a P/E/G ratio of 0.81 and a beta of 2.58. 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 company’s 50 day simple moving average is $77.79 and its 200 day simple moving average is $71.18.

Block (NYSE:XYZ) last issued its earnings results on Tuesday, November 3rd. The technology company reported $1.13 EPS for the quarter, beating the consensus estimate of $0.68 by $0.45. The company had revenue of $6.72 billion during the quarter. Block had a net margin of 1.43% and a return on equity of 8.10%. The business’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.54 EPS. On average, analysts predict that Block will post 2.75 EPS for the current year.

Insiders Place Their Bets

In other news, Director Anthony Eisen sold 6,000 shares of Block stock in a transaction on Wednesday, October 28th. The shares were sold at an average price of $74.44, for a total transaction of $446,640.00. Following the transaction, the director directly owned 1,212,672 shares of the company’s stock, valued at $90,271,303.68. This trade represents a 0.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 232,686 shares of company stock valued at $18,360,227 in the last quarter. Company insiders own 11.37% of the company’s stock.

Institutional Trading of Block

Large investors have recently made changes to their positions in the company. Jones Financial Companies Lllp bought a new position in shares of Block in the 2nd quarter valued at about $366,000. PNC Financial Services Group Inc. increased its position in shares of Block by 35.7% in the first quarter. PNC Financial Services Group Inc. now owns 69,637 shares of the technology company’s stock valued at $4,191,000 after acquiring an additional 18,326 shares during the last quarter. Nilsine Partners LLC raised its holdings in Block by 295.4% during the second quarter. Nilsine Partners LLC now owns 25,999 shares of the technology company’s stock worth $1,976,000 after acquiring an additional 19,423 shares in the last quarter. Nykredit A S bought a new stake in Block during the second quarter worth about $13,291,000. Finally, Swiss National Bank boosted its position in Block by 6.7% during the first quarter. Swiss National Bank now owns 1,607,286 shares of the technology company’s stock valued at $96,726,000 after purchasing an additional 101,300 shares during the last quarter. Institutional investors own 70.44% of the company’s stock.

Key Block News

Here are the key news stories impacting Block this week:

• Positive Sentiment: Block beat earnings expectations, reporting $1.13 per share. Revenue was $6.72 billion, up 9.9% year over year, and net income rose to $565.6 million from $461.5 million. Block Q3 Earnings and Revenues Beat Estimates
• Positive Sentiment: The company raised its full-year profit outlook after gross profit growth exceeded its guidance. Cash App drove quarterly growth, while Square’s U.S. payment volume growth accelerated, suggesting its sales efforts are gaining traction. Block raises full-year profit outlook as Cash App drives Q3 growth
• Neutral Sentiment: Block reached a preliminary settlement with the Department of Justice. A resolution could reduce regulatory uncertainty, but the available report does not specify the settlement’s terms or financial impact. Block lifts profit outlook on Cash App strength, reaches preliminary DOJ settlement
• Negative Sentiment: A post-earnings analysis noted that losses climbed even as adjusted profit increased, highlighting potential cost pressures that could temper optimism about the outlook. Block’s Adjusted Profit Jumps as Losses Climb

Block Company Profile

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.