Block (NYSE:XYZ) Price Target Raised to $102.00

Block (NYSE:XYZ) had its price target lifted by BMO Capital Markets from $101.00 to $102.00 in a research report report published on Tuesday. The firm currently has a market perform rating on the technology company’s stock.

A number of other research analysts have also weighed in on XYZ. KeyCorp raised their target price on Block from $105.00 to $108.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Raymond James Financial increased their price target on Block from $97.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday. Bank of America raised their price objective on Block from $115.00 to $117.00 and gave the company a “buy” rating in a research note on Wednesday. Citigroup upgraded Block from a “buy” rating to an “outperform” rating in a research note on Tuesday. Finally, TD Cowen lifted their price objective on shares of Block from $105.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $98.24.

Block Stock Up 2.2%

NYSE:XYZ traded up $1.88 during trading hours on Tuesday, reaching $85.92. The company had a trading volume of 3,007,317 shares, compared to its average volume of 6,194,349. The company has a quick ratio of 2.21, a current ratio of 2.23 and a debt-to-equity ratio of 0.25. The firm has a market cap of $51.62 billion, a price-to-earnings ratio of 116.24, a P/E/G ratio of 0.92 and a beta of 2.58. The business’s 50-day simple moving average is $77.90 and its two-hundred day simple moving average is $71.39. Block has a twelve month low of $48.21 and a twelve month high of $88.51.

Block (NYSE:XYZ) last issued its earnings results on Tuesday, November 3rd. The technology company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.45. The company had revenue of $6.72 billion for the quarter. Block had a return on equity of 9.63% and a net margin of 1.80%. Block’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.54 earnings per share. On average, equities analysts expect that Block will post 2.75 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Brian Grassadonia sold 8,173 shares of Block stock in a transaction on Monday, August 24th. The stock was sold at an average price of $82.42, for a total transaction of $673,618.66. Following the sale, the insider directly owned 513,981 shares in the company, valued at $42,362,314.02. The trade was a 1.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony Eisen sold 6,000 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $81.48, for a total transaction of $488,880.00. Following the completion of the transaction, the director directly owned 1,482,672 shares in the company, valued at $120,808,114.56. This trade represents a 0.40% decrease in their ownership of the stock. 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 quarter, insiders have sold 226,686 shares of company stock valued at $17,861,807. Insiders own 11.37% of the company’s stock.

Institutional Investors Weigh In On Block

Several large investors have recently modified their holdings of XYZ. NovaPoint Capital LLC boosted its holdings in Block by 3.9% in the third quarter. NovaPoint Capital LLC now owns 3,630 shares of the technology company’s stock worth $267,000 after acquiring an additional 137 shares in the last quarter. Raiffeisen Bank International AG increased its holdings in shares of Block by 0.3% during the second 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. Ashton Thomas Securities LLC raised its position in shares of Block by 2.8% in the 3rd quarter. Ashton Thomas Securities LLC now owns 5,885 shares of the technology company’s stock worth $433,000 after purchasing an additional 160 shares during the last quarter. Crossmark Global Holdings Inc. raised its position 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 purchasing an additional 175 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its stake in Block by 3.3% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 70.44% of the company’s stock.

More Block News

Here are the key news stories impacting Block this week:

• Positive Sentiment: Block’s third-quarter results beat expectations: earnings per share were $1.13 versus the $0.68 consensus, while revenue rose 9.9% year over year. Cash App lending and Square growth helped lift gross profit 22% to $3.24 billion, and the company raised its 2026 outlook. Shares recently reached a 52-week high following the results. Article: Block earnings lift outlook Article: Block Q3 earnings beat estimates
• Positive Sentiment: Several firms raised price targets, reinforcing optimism: Wells Fargo lifted its target to $110, TD Cowen to $109, Barclays and Argus to $105, and RBC to $103. Needham reiterated its Buy rating, while TD Cowen and Susquehanna also expressed expectations for further gains. Wells Fargo forecast Argus target increase Barclays target increase
• Positive Sentiment: Traders also purchased a large volume of Block call options, suggesting bullish positioning, though options activity can be speculative. Call options activity
• Neutral Sentiment: Morgan Stanley raised its target to $82 but maintained an Equal Weight rating; Scotiabank also kept a Sector Perform rating. Their views are more cautious than the broader cluster of Buy and Outperform calls.
• Negative Sentiment: Block is making its second round of job cuts this year, affecting employees in Cash App. The cuts may reduce costs, but the timing shortly after strong earnings could raise questions about staffing and business needs. Article: Block job cuts

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.