Block (NYSE:XYZ) Price Target Raised to $100.00 at Canaccord Genuity Group

Key Points

• Canaccord Genuity raised Block’s price target from $85 to $100 and maintained a “buy” rating, implying approximately 20.25% upside from the previous close.
• Block reported quarterly EPS of $1.02, beating the $0.48 consensus estimate, while revenue rose 9.3% year over year to $6.62 billion.
• Analyst sentiment remains favorable, with MarketBeat reporting a “Moderate Buy” consensus rating and an average price target of $95.23; shares closed at $83.16 after rising $4.88.

Block (NYSE:XYZ - Get Free Report) had its price objective hoisted by investment analysts at Canaccord Genuity Group from $85.00 to $100.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the technology company's stock. Canaccord Genuity Group's price target would indicate a potential upside of 20.25% from the company's previous close.

Several other research firms have also recently commented on XYZ. Weiss Ratings raised shares of Block from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, August 6th. Craig Hallum started coverage on shares of Block in a research note on Tuesday, June 30th. They issued a "buy" rating for the company. Barclays started coverage on shares of Block in a report on Tuesday, July 7th. They issued an "overweight" rating and a $100.00 price objective for the company. UBS Group raised their price objective on shares of Block from $92.00 to $98.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Finally, Piper Sandler boosted their target price on Block from $100.00 to $105.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Three analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $95.23.

Block Stock Performance

XYZ traded up $4.88 during trading hours on Thursday, hitting $83.16. The company's stock had a trading volume of 5,222,863 shares, compared to its average volume of 6,775,140. Block has a fifty-two week low of $48.21 and a fifty-two week high of $86.75. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $49.50 billion, a PE ratio of 148.50, a PEG ratio of 0.96 and a beta of 2.53. The company has a 50-day simple moving average of $77.03 and a 200 day simple moving average of $68.35.

Block (NYSE:XYZ - Get Free Report) last released 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. Block had a return on equity of 8.10% and a net margin of 1.43%.The company had revenue of $6.62 billion during the quarter. During the same period in the previous year, the company posted $0.62 EPS. The company'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. As a group, sell-side analysts expect that Block will post 2.49 EPS for the current year.

Insider Buying and Selling at Block

In other news, Director Anthony Mathew Eisen sold 6,000 shares of the firm's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $78.47, for a total transaction of $470,820.00. Following the completion of the transaction, the director owned 1,548,672 shares in the company, valued at approximately $121,524,291.84. This trade represents a 0.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Amrita Ahuja sold 8,971 shares of Block stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $85.85, for a total transaction of $770,160.35. Following the completion of the transaction, the chief financial officer directly owned 454,275 shares in the company, valued at $38,999,508.75. This represents a 1.94% 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. In the last three months, insiders sold 447,179 shares of company stock valued at $35,014,655. 11.37% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Elevation Wealth Partners LLC boosted its stake in shares of Block by 301.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 389 shares of the technology company's stock worth $30,000 after acquiring an additional 292 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in shares of Block during the first quarter worth $31,000. Rachor Investment Advisory Services LLC acquired a new stake in shares of Block during the fourth quarter worth $32,000. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Block by 57.6% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 610 shares of the technology company's stock valued at $40,000 after purchasing an additional 223 shares during the last quarter. Finally, Osbon Capital Management LLC purchased a new stake in shares of Block during the fourth quarter valued at $43,000. Institutional investors own 70.44% of the company's stock.

About Block

Block NYSE: XYZ is a financial technology company that builds products and services to facilitate electronic payments, commerce, and consumer finance. Its principal business lines include a seller-focused ecosystem that provides point-of-sale hardware and software, payment processing, invoicing, payroll and lending services, and a consumer-facing platform that offers peer-to-peer payments, banking-like features, and investing. Block's portfolio also encompasses music streaming and buy-now-pay-later capabilities through businesses acquired to broaden its reach beyond core payments.

The company was founded as Square in 2009 by Jack Dorsey and Jim McKelvey and later rebranded to Block to reflect a diversified set of businesses across payments, consumer finance, and emerging technologies.

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