Cantor Fitzgerald Reiterates “Overweight” Rating for Block (NYSE:XYZ)

Block (NYSE:XYZ)‘s stock had its “overweight” rating restated by stock analysts at Cantor Fitzgerald in a research report issued on Friday, Benzinga reports. They presently have a $95.00 price objective on the technology company’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 24.15% from the company’s previous close.

Several other brokerages have also recently issued reports on XYZ. Benchmark upgraded Block to a “strong-buy” rating in a research report on Thursday, September 10th. Canaccord Genuity Group lifted their target price on Block from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Royal Bank Of Canada lifted their target price on Block from $93.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Scotiabank began coverage on Block in a report on Wednesday, September 2nd. They issued a “sector perform” rating and a $82.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft upgraded Block to a “buy” rating in a report on Tuesday, June 30th. Four research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $95.42.

Block Price Performance

Shares of XYZ stock traded down $0.22 during mid-day trading on Friday, hitting $76.52. 3,325,171 shares of the stock traded hands, compared to its average volume of 6,317,485. Block has a twelve month low of $48.21 and a twelve month high of $86.92. The firm has a market cap of $45.97 billion, a price-to-earnings ratio of 136.64, a price-to-earnings-growth ratio of 0.81 and a beta of 2.52. The company’s 50-day simple moving average is $80.22 and its 200-day simple moving average is $73.26. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.21 and a current ratio of 2.21.

Block (NYSE:XYZ) last issued its quarterly earnings results on Wednesday, August 5th. The technology company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.54. Block had a return on equity of 8.10% and a net margin of 1.43%.The company had revenue of $6.62 billion for the quarter. During the same quarter last year, the business posted $0.62 earnings per share. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. Block has set its FY 2026 guidance at 4.020-4.020 EPS and its Q3 2026 guidance at 1.020-1.020 EPS. As a group, equities research analysts expect that Block will post 2.74 earnings per share for the current year.

Insider Activity

In other 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 transaction, the insider owned 557,654 shares in the company, valued at approximately $44,612,320. The trade was a 7.21% decrease in their ownership of the stock. The sale 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. Also, Director Anthony Eisen sold 41,000 shares of Block stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $85.85, for a total value of $3,519,850.00. Following the transaction, the director owned 1,566,672 shares in the company, valued at $134,498,791.20. This represents a 2.55% 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. Over the last quarter, insiders have sold 369,913 shares of company stock worth $29,935,706. 11.37% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of XYZ. Raiffeisen Bank International AG lifted its holdings in Block by 0.3% in the second quarter. Raiffeisen Bank International AG now owns 44,901 shares of the technology company’s stock valued at $3,503,000 after buying an additional 148 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Block by 33.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 707 shares of the technology company’s stock valued at $46,000 after buying an additional 179 shares during the period. Avior Wealth Management LLC lifted its holdings in Block by 3.3% in the second quarter. Avior Wealth Management LLC now owns 6,081 shares of the technology company’s stock valued at $462,000 after buying an additional 193 shares during the period. Carson Advisory Inc. lifted its holdings in Block by 2.6% in the first quarter. Carson Advisory Inc. now owns 8,035 shares of the technology company’s stock valued at $484,000 after buying an additional 200 shares during the period. Finally, Cary Street Partners Investment Advisory LLC lifted its holdings in Block by 57.6% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 610 shares of the technology company’s stock valued at $40,000 after buying an additional 223 shares during the period. Hedge funds and other institutional investors own 70.44% of the company’s stock.

About Block

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.