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

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

Several other analysts also recently commented on the stock. Monness Crespi & Hardt increased their price objective on shares of Block from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Rosenblatt Securities set a $100.00 price objective on shares of Block in a research report on Tuesday, June 30th. Morgan Stanley reissued an “overweight” rating on shares of Block in a research report on Wednesday, August 5th. TD Cowen increased their price objective on shares of Block from $101.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Barclays initiated coverage on shares of Block in a research report on Tuesday, July 7th. They set an “overweight” rating and a $100.00 price objective on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.42.

Block Stock Down 0.3%

Shares of Block stock traded down $0.22 during trading on Friday, hitting $76.52. The company’s stock had a trading volume of 3,325,171 shares, compared to its average volume of 6,317,485. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.21 and a current ratio of 2.21. The company has a fifty day simple moving average of $80.22 and a two-hundred day simple moving average of $73.26. The company has a market capitalization of $45.97 billion, a PE ratio of 136.64, a P/E/G ratio of 0.81 and a beta of 2.52. Block has a 52 week low of $48.21 and a 52 week high of $86.92.

Block (NYSE:XYZ) last announced its quarterly earnings data on Wednesday, August 5th. The technology company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.48 by $0.54. Block had a net margin of 1.43% and a return on equity of 8.10%. The company had revenue of $6.62 billion for the quarter. During the same period last year, the company posted $0.62 earnings per share. The business’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. Equities research analysts predict that Block will post 2.74 earnings per share for the current year.

Insider Activity

In other news, Director Anthony Eisen sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $76.67, for a total transaction of $460,020.00. Following the sale, the director owned 1,362,672 shares of the company’s stock, valued at $104,476,062.24. This trade represents a 0.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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. Company insiders own 11.37% of the company’s stock.

Institutional Trading of Block

Institutional investors have recently made changes to their positions in the stock. Capital World Investors boosted its holdings in shares of Block by 41.8% during the 4th quarter. Capital World Investors now owns 16,023,441 shares of the technology company’s stock valued at $1,042,966,000 after acquiring an additional 4,727,217 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Block by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 14,406,899 shares of the technology company’s stock worth $934,121,000 after buying an additional 67,560 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Block in the second quarter worth approximately $621,703,000. Norges Bank purchased a new position in shares of Block in the fourth quarter worth approximately $484,387,000. Finally, Contour Asset Management LLC boosted its holdings in shares of Block by 30.4% in the fourth quarter. Contour Asset Management LLC now owns 4,666,891 shares of the technology company’s stock worth $303,768,000 after buying an additional 1,088,299 shares during the last quarter. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Block Company Profile

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.