Block (NYSE:XYZ) Price Target Raised to $109.00

Block (NYSE:XYZ) had its price objective upped by TD Cowen from $105.00 to $109.00 in a report published on Wednesday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other research analysts have also recently commented on XYZ. Morgan Stanley raised their price target on Block from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Zacks Research cut shares of Block from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 30th. Royal Bank Of Canada increased their price objective on shares of Block from $95.00 to $103.00 and gave the stock an “outperform” rating in a research note on Wednesday. Monness Crespi & Hardt raised their target price on shares of Block from $115.00 to $125.00 and gave the company a “buy” rating in a report on Friday, August 7th. Finally, BMO Capital Markets reissued a “hold” rating on shares of Block in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $98.36.

Block Stock Performance

NYSE XYZ traded up $1.54 on Wednesday, reaching $85.58. The stock had a trading volume of 7,756,635 shares, compared to its average volume of 4,670,644. 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 firm has a fifty day moving average of $77.92 and a two-hundred day moving average of $71.50. Block has a 1-year low of $48.21 and a 1-year high of $88.51. The company has a market cap of $51.42 billion, a P/E ratio of 115.65, a price-to-earnings-growth ratio of 0.81 and a beta of 2.58.

Block (NYSE:XYZ) last posted its earnings results on Tuesday, November 3rd. The technology company reported $1.13 earnings per share for the quarter, topping 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 company had revenue of $6.72 billion during the quarter. During the same period in the prior year, the business posted $0.54 EPS. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, equities research analysts anticipate that Block will post 2.75 EPS for the current year.

Insider Activity

In related news, Director Anthony Eisen sold 35,000 shares of Block stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $87.50, for a total value of $3,062,500.00. Following the sale, the director owned 1,177,672 shares of the company’s stock, valued at approximately $103,046,300. The trade was a 2.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 261,686 shares of company stock worth $20,924,307. Company insiders own 11.37% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in XYZ. Jones Financial Companies Lllp bought a new stake in shares of Block in the 2nd quarter worth approximately $366,000. PNC Financial Services Group Inc. grew its holdings in shares of Block by 35.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 69,637 shares of the technology company’s stock valued at $4,191,000 after purchasing an additional 18,326 shares during the last quarter. Nilsine Partners LLC raised its position in Block by 295.4% in the 2nd quarter. Nilsine Partners LLC now owns 25,999 shares of the technology company’s stock worth $1,976,000 after purchasing an additional 19,423 shares during the period. Nykredit A S bought a new stake in Block in the second quarter worth $13,291,000. Finally, Swiss National Bank lifted its stake in Block by 6.7% in the first quarter. Swiss National Bank now owns 1,607,286 shares of the technology company’s stock worth $96,726,000 after purchasing an additional 101,300 shares during the last quarter. 70.44% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Block

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.