Block (NYSE:XYZ) Price Target Raised to $93.00

Key Points

• Truist Financial raised Block’s price target from $82 to $93 and maintained a buy rating, implying about 21% upside from the current share price.
• Block’s shares were down 1.1% to $76.64, while analysts overall still view the stock favorably with a Moderate Buy consensus and an average target price of $89.84.
• The company recently beat earnings expectations, reporting $0.85 EPS versus the $0.30 estimate, and also saw notable insider selling and continued strong institutional ownership at 70.44%.

Block (NYSE:XYZ - Get Free Report) had its price objective hoisted by research analysts at Truist Financial from $82.00 to $93.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the technology company's stock. Truist Financial's price target would suggest a potential upside of 21.35% from the stock's current price.

Other research analysts have also issued reports about the company. Canaccord Genuity Group raised their price target on Block from $80.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, May 18th. Citigroup upped their price objective on Block from $100.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, July 16th. William Blair lowered Block to a "market perform" rating in a research note on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft upgraded Block to a "buy" rating in a report on Tuesday, June 30th. Finally, Morgan Stanley upped their price target on Block from $96.00 to $98.00 and gave the company an "overweight" rating in a research note on Friday, May 29th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $89.84.

Block Trading Down 1.1%

Shares of NYSE XYZ opened at $76.64 on Friday. The company's 50 day simple moving average is $74.30 and its 200 day simple moving average is $67.00. Block has a fifty-two week low of $48.21 and a fifty-two week high of $84.08. The firm has a market capitalization of $45.61 billion, a P/E ratio of 59.87, a P/E/G ratio of 0.98 and a beta of 2.54. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.99 and a quick ratio of 1.99.

Block (NYSE:XYZ - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The technology company reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.55. The firm had revenue of $6.06 billion for the quarter. Block had a net margin of 3.30% and a return on equity of 7.02%. Block's revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.56 earnings per share. Block has set its Q2 2026 guidance at 0.860-0.860 EPS and its FY 2026 guidance at 3.850-3.850 EPS. On average, analysts predict that Block will post 2.48 EPS for the current year.

Insiders Place Their Bets

In other Block news, Director Anthony Mathew Eisen sold 6,000 shares of the business's stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $78.35, for a total value of $470,100.00. Following the completion of the transaction, the director directly owned 1,838,672 shares of the company's stock, valued at approximately $144,059,951.20. The trade was a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brian Grassadonia sold 43,348 shares of the business's stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $80.00, for a total value of $3,467,840.00. Following the completion of the transaction, the insider directly owned 557,654 shares of the company's stock, valued at approximately $44,612,320. The trade was a 7.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 323,300 shares of company stock valued at $24,742,756. 11.37% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Block

Several institutional investors have recently modified their holdings of the business. Capital World Investors increased its stake in Block by 41.8% during the 4th quarter. Capital World Investors now owns 16,023,441 shares of the technology company's stock worth $1,042,966,000 after purchasing an additional 4,727,217 shares in the last quarter. Geode Capital Management LLC lifted its stake in Block by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 14,406,899 shares of the technology company's stock valued at $934,121,000 after buying an additional 67,560 shares in the last quarter. Ameriprise Financial Inc. bought a new position in Block in the second quarter valued at approximately $535,305,000. Norges Bank acquired a new position in shares of Block in the fourth quarter valued at approximately $484,387,000. Finally, Tiger Global Management LLC boosted its holdings in shares of Block by 43.9% in the fourth quarter. Tiger Global Management LLC now owns 6,364,840 shares of the technology company's stock valued at $414,287,000 after buying an additional 1,941,528 shares during the period. 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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