Block (NYSE:XYZ) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Key Points

• Needham raised Block’s price target to $100 from $95 while maintaining a “buy” rating, implying 18.76% upside from the previous close. Analysts collectively assign the stock a “Moderate Buy” rating with a consensus target of $89.90.
• Block reported quarterly EPS of $1.02, beating the $0.48 consensus estimate, while revenue reached $6.62 billion, up 9.3% year over year.
• Block shares opened at $84.20, near their 52-week high of $86.75. Insiders have sold 385,208 shares worth approximately $29.8 million over the past 90 days, while institutional investors own 70.44% of the stock.

Block (NYSE:XYZ - Get Free Report) had its price target hoisted by equities researchers at Needham & Company LLC from $95.00 to $100.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. Needham & Company LLC's price target would indicate a potential upside of 18.76% from the company's previous close.

Several other research analysts have also recently issued reports on the company. Weiss Ratings upgraded Block from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, June 1st. Rosenblatt Securities set a $100.00 target price on shares of Block in a report on Tuesday, June 30th. Craig Hallum began coverage on Block in a research note on Tuesday, June 30th. They set a "buy" rating for the company. Oppenheimer cut Block from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 30th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Block to a "buy" rating in a report on Tuesday, June 30th. Three research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, Block currently has an average rating of "Moderate Buy" and a consensus price target of $89.90.

Block Trading Down 0.5%

NYSE:XYZ opened at $84.20 on Thursday. 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 has a 50-day simple moving average of $76.54 and a 200-day simple moving average of $67.85. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.99 and a current ratio of 1.99. Block has a one year low of $48.21 and a one year high of $86.75.

Block (NYSE:XYZ - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The technology company reported $1.02 earnings per share 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 business had revenue of $6.62 billion for the quarter. During the same quarter in the previous year, the firm posted $0.62 EPS. Block's revenue 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. Equities analysts anticipate that Block will post 2.48 EPS for the current fiscal year.

Insider Activity

In related news, insider Brian Grassadonia sold 25,908 shares of Block stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $81.64, for a total value of $2,115,129.12. Following the completion of the transaction, the insider owned 531,746 shares in the company, valued at approximately $43,411,743.44. The trade was a 4.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony Mathew Eisen sold 6,000 shares of Block stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $81.52, for a total value of $489,120.00. Following the completion of the transaction, the director owned 1,613,672 shares of the company's stock, valued at approximately $131,546,541.44. This trade represents a 0.37% 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. Over the last 90 days, insiders sold 385,208 shares of company stock worth $29,755,405. 11.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Block

A number of institutional investors and hedge funds have recently modified their holdings of XYZ. Sound Income Strategies LLC raised its holdings in 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 acquiring an additional 161 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Block by 33.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 707 shares of the technology company's stock valued at $46,000 after buying an additional 179 shares during the last quarter. Merit Financial Group LLC grew its stake in shares of Block by 3.7% in the fourth quarter. Merit Financial Group LLC now owns 5,270 shares of the technology company's stock valued at $343,000 after buying an additional 188 shares in the last quarter. Avior Wealth Management LLC increased its holdings in Block by 3.3% during the second quarter. Avior Wealth Management LLC now owns 6,081 shares of the technology company's stock worth $462,000 after buying an additional 193 shares during the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its stake in Block by 33.3% in the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 800 shares of the technology company's stock valued at $58,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds 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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