Canaccord Genuity Group Issues Positive Forecast for Block (NYSE:XYZ) Stock Price

Key Points

• Canaccord Genuity Group raised its price target on Block from $80 to $85 and kept a buy rating, implying about 20% upside from the current price.
• Block has drawn broadly positive analyst sentiment overall, with a Moderate Buy consensus and a consensus price target of $84.66, while several firms recently lifted their targets.
• The company’s latest quarterly results beat expectations, with EPS of $0.85 versus the $0.30 estimate and revenue of $6.06 billion; the stock was trading up slightly at $70.63 in Monday’s session.

Block (NYSE:XYZ - Get Free Report) had its price objective hoisted by equities researchers at Canaccord Genuity Group from $80.00 to $85.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the technology company's stock. Canaccord Genuity Group's price target would suggest a potential upside of 20.34% from the company's current price.

XYZ has been the topic of several other research reports. TD Cowen lifted their target price on Block from $91.00 to $95.00 and gave the company a "buy" rating in a research note on Friday, February 27th. Loop Capital assumed coverage on Block in a research note on Tuesday, March 31st. They issued a "buy" rating and a $75.00 target price on the stock. BTIG Research reiterated a "buy" rating and issued a $90.00 target price on shares of Block in a research note on Friday, May 8th. Bank of America cut their target price on Block from $85.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday, March 25th. Finally, Citigroup lifted their target price on Block from $85.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, May 8th. Three analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Block presently has a consensus rating of "Moderate Buy" and a consensus price target of $84.66.

Block Trading Up 0.4%

NYSE XYZ traded up $0.27 during trading hours on Monday, hitting $70.63. 3,250,510 shares of the company were exchanged, compared to its average volume of 7,463,830. The stock has a 50-day moving average price of $65.37 and a 200 day moving average price of $63.94. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.26. Block has a 52 week low of $48.21 and a 52 week high of $82.50. The stock has a market cap of $42.04 billion, a PE ratio of 55.17, a price-to-earnings-growth ratio of 0.99 and a beta of 2.57.

Block (NYSE:XYZ - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The technology company reported $0.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.55. The company had revenue of $6.06 billion during the quarter. Block had a return on equity of 7.02% and a net margin of 3.30%.The firm's quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $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. Analysts forecast that Block will post 2.23 earnings per share for the current fiscal year.

Insider Transactions at Block

In related news, insider Owen Britton Jennings sold 3,555 shares of Block stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $63.41, for a total transaction of $225,422.55. Following the completion of the sale, the insider owned 231,262 shares of the company's stock, valued at $14,664,323.42. The trade was a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Chrysty Esperanza sold 3,000 shares of Block stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $75.00, for a total value of $225,000.00. Following the sale, the insider directly owned 268,169 shares of the company's stock, valued at $20,112,675. This trade represents a 1.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 49,725 shares of company stock worth $3,401,393. 11.37% of the stock is owned by company insiders.

Institutional Investors Weigh In On Block

Several hedge funds have recently bought and sold shares of the stock. Howard Capital Management Inc. boosted its position in Block by 3.2% in the 3rd quarter. Howard Capital Management Inc. now owns 4,439 shares of the technology company's stock worth $321,000 after purchasing an additional 138 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in Block by 23.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 853 shares of the technology company's stock worth $66,000 after purchasing an additional 160 shares in the last quarter. Sound Income Strategies LLC boosted its position in Block by 57.1% in the 4th quarter. Sound Income Strategies LLC now owns 443 shares of the technology company's stock worth $29,000 after purchasing an additional 161 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Block by 0.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 21,183 shares of the technology company's stock worth $1,561,000 after buying an additional 167 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Block by 33.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 707 shares of the technology company's stock worth $46,000 after buying an additional 179 shares during the period. Hedge funds and other 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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