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

Block (NYSE:XYZ)‘s stock had its “overweight” rating reiterated by equities researchers at Cantor Fitzgerald in a research note issued to investors on Friday, Benzinga reports. They currently have a $95.00 price target on the technology company’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 23.76% from the stock’s current price.

A number of other research analysts have also issued reports on the company. TD Cowen boosted their target price on Block from $101.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Robert W. Baird set a $105.00 price objective on shares of Block in a research report on Thursday, August 6th. Piper Sandler upped their price objective on shares of Block from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. KeyCorp raised their target price on shares of Block from $105.00 to $108.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Finally, Jefferies Financial Group started coverage on shares of Block in a research note on Tuesday, June 30th. They set a “hold” rating on the stock. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, Block presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.42.

Block Trading Up 2.8%

Shares of Block stock opened at $76.76 on Friday. 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 market capitalization of $46.12 billion, a P/E ratio of 137.07, a PEG ratio of 0.81 and a beta of 2.52. Block has a 1 year low of $48.21 and a 1 year high of $86.92. The company’s fifty day moving average is $80.28 and its two-hundred day moving average is $73.24.

Block (NYSE:XYZ) last released its quarterly earnings results on Wednesday, August 5th. The technology company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.54. The firm had revenue of $6.62 billion for the quarter. Block had a return on equity of 8.10% and a net margin of 1.43%.The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the business earned $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. Analysts forecast that Block will post 2.74 earnings per share for the current year.

Insider Activity

In related news, CFO Amrita Ahuja sold 9,511 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $82.43, for a total value of $783,991.73. Following the completion of the sale, the chief financial officer owned 423,262 shares in the company, valued at $34,889,486.66. This trade represents a 2.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony Eisen sold 41,000 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $85.85, for a total transaction of $3,519,850.00. Following the sale, the director directly owned 1,566,672 shares in the company, valued at approximately $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. Insiders sold 369,913 shares of company stock worth $29,935,706 in the last 90 days. 11.37% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Block

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

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.