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

Block (NYSE:XYZ)‘s stock had its “overweight” rating reaffirmed by Cantor Fitzgerald in a research note issued to investors on Friday, Benzinga reports. They presently have a $95.00 price objective on the technology company’s stock. Cantor Fitzgerald’s target price would indicate a potential upside of 23.59% from the company’s previous close.

Several other research firms have also recently weighed in on XYZ. Clear Str upgraded Block to a “hold” rating in a research note on Thursday, July 16th. Canaccord Genuity Group boosted their price objective on Block from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. TD Cowen boosted their target price on Block from $101.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. William Blair cut Block to a “market perform” rating in a research note on Tuesday, June 30th. Finally, Citigroup increased their price objective on Block from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, Block currently has a consensus rating of “Moderate Buy” and an average price target of $95.42.

Block Trading Up 0.2%

XYZ stock traded up $0.13 during mid-day trading on Friday, reaching $76.87. The company’s stock had a trading volume of 1,732,381 shares, compared to its average volume of 6,308,073. The company has a market cap of $46.18 billion, a price-to-earnings ratio of 136.90, a price-to-earnings-growth ratio of 0.81 and a beta of 2.52. The business’s 50 day moving average price is $80.28 and its 200 day moving average price is $73.24. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.26. Block has a 12 month low of $48.21 and a 12 month high of $86.92.

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

Insider Transactions at Block

In other Block news, Director Anthony Eisen sold 6,000 shares of the business’s stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $76.67, for a total value of $460,020.00. Following the completion of the transaction, the director owned 1,362,672 shares in the company, valued at $104,476,062.24. The trade was a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 369,913 shares of company stock valued at $29,935,706 over the last 90 days. 11.37% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. QRG Capital Management Inc. grew its position in shares of Block by 13.9% in the second quarter. QRG Capital Management Inc. now owns 122,158 shares of the technology company’s stock valued at $9,284,000 after purchasing an additional 14,887 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in Block by 10.9% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,901 shares of the technology company’s stock worth $524,000 after acquiring an additional 676 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Block by 5.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 15,836 shares of the technology company’s stock valued at $1,204,000 after buying an additional 857 shares during the period. Engineers Gate Manager LP boosted its stake in Block by 2,575.4% during the 2nd quarter. Engineers Gate Manager LP now owns 571,414 shares of the technology company’s stock valued at $43,427,000 after purchasing an additional 550,056 shares during the period. Finally, Cidel Asset Management Inc. bought a new stake in shares of Block during the 2nd quarter worth about $229,000. 70.44% of the stock is owned by hedge funds and other institutional investors.

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.