Block (NYSE:XYZ) Receives "Overweight" Rating from Cantor Fitzgerald

Key Points

• Cantor Fitzgerald reissued its “overweight” rating on Block and maintained a $95 price target, implying 12.83% upside from the previous close.
• Analyst sentiment remains positive overall, with Block carrying a consensus “Moderate Buy” rating and an average price target of $89.90.
• Block reported quarterly EPS of $1.02, exceeding the $0.48 consensus estimate, while revenue rose 9.3% year over year to $6.62 billion.

Block (NYSE:XYZ - Get Free Report)'s stock had its "overweight" rating reissued by equities research analysts at Cantor Fitzgerald in a research note issued to investors on Thursday,Benzinga reports. They currently have a $95.00 price target on the technology company's stock. Cantor Fitzgerald's target price suggests a potential upside of 12.83% from the stock's previous close.

A number of other equities analysts have also recently commented on the company. Jefferies Financial Group assumed coverage on Block in a report on Tuesday, June 30th. They set a "hold" rating for the company. UBS Group reissued a "buy" rating on shares of Block in a research report on Thursday. BMO Capital Markets raised their price objective on shares of Block from $78.00 to $85.00 and gave the company a "market perform" rating in a research note on Wednesday, July 22nd. Piper Sandler upgraded shares of Block from an "underweight" rating to an "overweight" rating and lifted their price objective for the company from $58.00 to $100.00 in a report on Monday, June 29th. Finally, The Goldman Sachs Group raised shares of Block from a "buy" rating to a "buy" rating in a research report on Tuesday, June 30th. Three analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, Block presently has an average rating of "Moderate Buy" and a consensus price target of $89.90.

Block Stock Performance

Shares of XYZ stock opened at $84.20 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.99 and a current ratio of 1.99. The firm has a market cap of $50.11 billion, a P/E ratio of 65.78, a P/E/G ratio of 1.07 and a beta of 2.53. The firm's 50 day moving average price is $76.54 and its 200-day moving average price is $67.85. Block has a one year low of $48.21 and a one year high of $86.75.

Block (NYSE:XYZ - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The technology company reported $1.02 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.54. Block had a return on equity of 7.02% and a net margin of 3.30%.The company had revenue of $6.62 billion for the quarter. During the same quarter last year, the company earned $0.62 earnings per share. The firm's revenue for the quarter was up 9.3% on a year-over-year basis. 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, equities research analysts predict that Block will post 2.48 EPS for the current year.

Insider Buying and Selling at Block

In other Block news, insider Brian Grassadonia sold 43,348 shares of the firm's stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $80.00, for a total transaction of $3,467,840.00. Following the transaction, the insider owned 557,654 shares of the company's stock, valued at approximately $44,612,320. This trade represents a 7.21% decrease in their ownership of the stock. The sale 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. Also, Director Anthony Mathew Eisen sold 135,750 shares of Block stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $76.81, for a total value of $10,426,957.50. Following the sale, the director owned 2,032,990 shares in the company, valued at $156,153,961.90. This trade represents a 6.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 385,208 shares of company stock worth $29,755,405 over the last 90 days. Corporate insiders own 11.37% of the company's stock.

Hedge Funds Weigh In On Block

A number of hedge funds have recently modified their holdings of the business. Elevation Wealth Partners LLC boosted its stake in 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 purchasing an additional 292 shares during the period. Sound Income Strategies LLC raised its stake in shares of Block by 57.1% during the fourth quarter. Sound Income Strategies LLC now owns 443 shares of the technology company's stock worth $29,000 after purchasing an additional 161 shares during the last quarter. Rachor Investment Advisory Services LLC purchased a new stake in Block in the 4th quarter valued at approximately $32,000. Global Assets Advisory LLC acquired a new position in Block during the first quarter worth about $31,000. Finally, Cary Street Partners Investment Advisory LLC raised its position in Block by 57.6% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 610 shares of the technology company's stock worth $40,000 after acquiring an additional 223 shares during the last quarter. 70.44% of the stock is currently owned by hedge funds and other institutional investors.

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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