Block (NYSE:XYZ) Price Target Raised to $93.00

Block (NYSE:XYZ) had its price objective hoisted by Truist Financial from $82.00 to $93.00 in a report released on Friday morning, MarketBeat reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other research analysts have also commented on the stock. Jefferies Financial Group began coverage on shares of Block in a research note on Tuesday, June 30th. They set a “hold” rating on the stock. Craig Hallum started coverage on Block in a research note on Tuesday, June 30th. They set a “buy” rating for the company. BTIG Research restated a “buy” rating and set a $90.00 price objective on shares of Block in a research report on Friday, May 8th. KeyCorp lifted their target price on Block from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Clear Str raised shares of Block to a “hold” rating in a research report on Thursday, July 16th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.84.

Block Stock Performance

Shares of XYZ opened at $77.19 on Friday. The firm has a market capitalization of $45.94 billion, a PE ratio of 60.31, a P/E/G ratio of 0.97 and a beta of 2.54. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average price of $74.44 and a 200 day moving average price of $67.06. Block has a 52-week low of $48.21 and a 52-week high of $84.08.

Block (NYSE:XYZ) last released its quarterly earnings results on Thursday, May 7th. The technology company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.55. The company had revenue of $6.06 billion for the quarter. Block had a net margin of 3.30% and a return on equity of 7.02%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.56 earnings per share. Block has set its Q2 2026 guidance at 0.860-0.860 EPS and its FY 2026 guidance at 3.850-3.850 EPS. On average, sell-side analysts anticipate that Block will post 2.48 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Brian Grassadonia sold 43,348 shares of Block stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $80.00, for a total transaction of $3,467,840.00. Following the completion of the sale, the insider owned 557,654 shares of the company’s stock, valued at approximately $44,612,320. This trade represents a 7.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Amrita Ahuja sold 8,093 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $75.00, for a total value of $606,975.00. Following the completion of the transaction, the chief financial officer owned 463,246 shares in the company, valued at $34,743,450. This trade represents a 1.72% 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. Insiders have sold a total of 323,300 shares of company stock worth $24,742,756 in the last ninety days. Corporate insiders own 11.37% of the company’s stock.

Institutional Investors Weigh In On Block

Several institutional investors have recently made changes to their positions in the company. Allstate Corp grew its position in Block by 91.9% in the fourth quarter. Allstate Corp now owns 39,281 shares of the technology company’s stock worth $2,557,000 after acquiring an additional 18,812 shares in the last quarter. Moran Wealth Management LLC raised its holdings in shares of Block by 37.3% during the 4th quarter. Moran Wealth Management LLC now owns 57,651 shares of the technology company’s stock valued at $3,753,000 after purchasing an additional 15,670 shares in the last quarter. National Pension Service lifted its stake in shares of Block by 8.4% in the 4th quarter. National Pension Service now owns 833,124 shares of the technology company’s stock valued at $54,228,000 after purchasing an additional 64,674 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of Block by 7.2% in the 4th quarter. Hsbc Holdings PLC now owns 1,223,824 shares of the technology company’s stock valued at $79,749,000 after purchasing an additional 82,446 shares during the last quarter. Finally, Mawer Investment Management Ltd. bought a new stake in Block in the fourth quarter worth $3,062,000. 70.44% of the stock is currently owned by institutional investors and hedge funds.

About Block

Block (NYSE:XYZ) is a financial technology company that builds products and services to facilitate electronic payments, commerce, and consumer finance. Its principal business lines include a seller-focused ecosystem that provides point-of-sale hardware and software, payment processing, invoicing, payroll and lending services, and a consumer-facing platform that offers peer-to-peer payments, banking-like features, and investing. Block’s portfolio also encompasses music streaming and buy-now-pay-later capabilities through businesses acquired to broaden its reach beyond core payments.

The company was founded as Square in 2009 by Jack Dorsey and Jim McKelvey and later rebranded to Block to reflect a diversified set of businesses across payments, consumer finance, and emerging technologies.