Block (NYSE:XYZ) Price Target Raised to $100.00

Block (NYSE:XYZ) had its price target increased by Raymond James Financial from $97.00 to $100.00 in a report published on Wednesday. Raymond James Financial currently has an outperform rating on the technology company’s stock.

Several other research analysts have also recently issued reports on XYZ. Canaccord Genuity Group increased their price target on shares of Block from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. BTIG Research reissued a “buy” rating and issued a $100.00 price objective on shares of Block in a report on Wednesday, October 28th. KeyCorp lifted their target price on Block from $105.00 to $108.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Bank of America lifted their price objective on shares of Block from $115.00 to $117.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Wells Fargo & Company lifted their price target on Block from $97.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.36.

Block Trading Up 1.8%

Shares of XYZ stock opened at $85.58 on Wednesday. Block has a 1 year low of $48.21 and a 1 year high of $88.51. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.21 and a quick ratio of 2.21. The company has a market cap of $51.42 billion, a price-to-earnings ratio of 115.65, a PEG ratio of 0.81 and a beta of 2.58. The firm has a fifty day moving average price of $77.92 and a 200-day moving average price of $71.50.

Block (NYSE:XYZ) last announced its quarterly 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 8.10% and a net margin of 1.43%. The firm had revenue of $6.72 billion during the quarter. During the same quarter in the previous year, the firm posted $0.54 EPS. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. As a group, equities analysts predict that Block will post 2.75 earnings per share for the current year.

Insider Buying and Selling at Block

In related news, Director Anthony Eisen sold 35,000 shares of Block stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $87.50, for a total transaction of $3,062,500.00. Following the transaction, the director owned 1,177,672 shares of the company’s stock, valued at $103,046,300. The trade was a 2.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 261,686 shares of company stock valued at $20,924,307. Insiders own 11.37% of the company’s stock.

Institutional Investors Weigh In On Block

Several hedge funds have recently made changes to their positions in the company. Elevation Wealth Partners LLC grew its position in Block by 301.0% during the second quarter. Elevation Wealth Partners LLC now owns 389 shares of the technology company’s stock valued at $30,000 after buying an additional 292 shares during the period. Global Assets Advisory LLC bought a new position in shares of Block during the 1st quarter worth $31,000. Meeder Asset Management Inc. purchased a new stake in shares of Block during the second quarter valued at about $46,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Block in the 3rd quarter worth approximately $48,000. Finally, Ancora Advisors LLC acquired a new stake in shares of Block during the 2nd quarter worth approximately $53,000. 70.44% of the stock is currently owned by institutional investors.

Block News Summary

Here are the key news stories impacting Block this week:

• Positive Sentiment: Several firms raised price targets, reinforcing expectations for further gains. UBS lifted its target to $105, Raymond James to $100 while maintaining an “outperform” rating, and BMO to $102 with a “market perform” rating. Wells Fargo raised its target to $110 and Barclays to $105, both with “overweight” ratings; Argus raised its target to $105 and maintained “buy.” UBS rating Raymond James rating BMO target update Wells Fargo rating Barclays rating Argus rating
• Positive Sentiment: Block reported better-than-expected earnings, with quarterly EPS of $1.13 versus the $0.68 consensus and revenue growth of 9.9% year over year. Shares subsequently reached a 52-week high, and traders bought a large volume of call options—signals of favorable investor expectations. Earnings and 52-week high Call options activity
• Neutral Sentiment: Rothschild & Co Redburn raised its target from $75 to $85 but kept a “neutral” rating, putting its estimate close to the recent share price. Redburn target update
• Negative Sentiment: Block reportedly made another round of job cuts this year, affecting employees in its Cash App businesses. The reductions may raise concerns about execution or operating pressures despite the recent earnings beat. Report on Block job cuts

About Block

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.

Founded in 2009 as Square by Jack Dorsey and Jim McKelvey, the company adopted the name Block in 2021.