Block (NYSE:XYZ) Given New $95.00 Price Target at Truist Financial

Block (NYSE:XYZ) had its target price increased by Truist Financial from $89.00 to $95.00 in a report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other research analysts have also weighed in on XYZ. HSBC boosted their price target on Block from $88.00 to $96.00 and gave the stock a “hold” rating in a research report on Friday, August 7th. Oppenheimer reissued an “outperform” rating and issued a $97.00 price objective (up from $85.00) on shares of Block in a report on Thursday, August 6th. Susquehanna raised their target price on shares of Block from $100.00 to $110.00 and gave the company a “positive” rating in a research note on Wednesday, November 4th. Cantor Fitzgerald boosted their target price on shares of Block from $95.00 to $102.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Daiwa Securities Group upped their price target on shares of Block from $80.00 to $94.00 and gave the stock an “outperform” rating in a research report on Thursday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $100.32.

Block Price Performance

Shares of NYSE XYZ opened at $85.74 on Wednesday. The stock has a market capitalization of $51.51 billion, a price-to-earnings ratio of 115.87, a PEG ratio of 0.85 and a beta of 2.58. The business has a 50-day moving average of $78.24 and a 200-day moving average of $71.82. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.23 and a quick ratio of 2.23. Block has a fifty-two week low of $48.21 and a fifty-two week high of $89.39.

Block (NYSE:XYZ) last released its earnings results on Tuesday, November 3rd. The technology company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.45. Block had a return on equity of 9.63% and a net margin of 1.80%. The business had revenue of $6.72 billion for the quarter. During the same period in the prior year, the firm posted $0.54 EPS. Block’s revenue was up 9.9% compared to the same quarter last year. As a group, sell-side analysts predict that Block will post 2.86 earnings per share for the current fiscal year.

Insider Transactions at Block

In related news, CFO Amrita Ahuja sold 9,511 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $82.43, for a total transaction of $783,991.73. Following the transaction, the chief financial officer directly owned 423,262 shares of the company’s stock, valued at approximately $34,889,486.66. The trade was a 2.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony Eisen sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $87.50, for a total value of $3,062,500.00. Following the transaction, the director directly owned 1,177,672 shares in the company, valued at $103,046,300. The trade was a 2.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 249,686 shares of company stock worth $19,981,767. 11.37% of the stock is owned by company insiders.

Hedge Funds Weigh In On Block

A number of large investors have recently made changes to their positions in XYZ. NovaPoint Capital LLC lifted its holdings in shares of Block by 3.9% during the third quarter. NovaPoint Capital LLC now owns 3,630 shares of the technology company’s stock worth $267,000 after buying an additional 137 shares in the last quarter. Raiffeisen Bank International AG increased its position in Block by 0.3% during the second quarter. Raiffeisen Bank International AG now owns 44,901 shares of the technology company’s stock worth $3,503,000 after acquiring an additional 148 shares during the period. Ashton Thomas Securities LLC increased its position in Block by 2.8% during the third quarter. Ashton Thomas Securities LLC now owns 5,885 shares of the technology company’s stock worth $433,000 after acquiring an additional 160 shares during the period. Crossmark Global Holdings Inc. raised its stake in 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 in the last quarter. Finally, Avior Wealth Management LLC raised 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. Institutional investors own 70.44% of the company’s stock.

Block Company Profile

Block, Inc. is a financial technology company that provides payment and commerce tools to businesses and financial services for consumers. Its products include Square, a platform offering payment processing, point-of-sale software and related business services, and Cash App, which provides person-to-person payments and other financial features. The company also owns Afterpay, a buy-now, pay-later service, and TIDAL, a music and entertainment platform. Block serves businesses and consumers in the United States and other markets, with product availability varying by country.