BlackRock (NYSE:BLK) Stock Has Average Price Target of $1,337.19 According to Brokerages

Key Points

• Analysts remain bullish on BlackRock: Eighteen firms rate the stock a consensus “Moderate Buy,” with 15 buys, two holds and one strong buy. The average 12-month price target is $1,337.19 versus a reported share price of $1,117.12.
• Quarterly results exceeded expectations: BlackRock reported $15.93 in earnings per share and $7.75 billion in revenue, surpassing analyst estimates, while revenue increased 19.1% year over year.
• Expansion and risks span digital assets and alternatives: Bitcoin ETF inflows, new thematic products and a planned investment of up to $434.6 million in TBS Energi Utama could support growth, though potential crypto-asset liquidation and macroeconomic concerns remain risks.

BlackRock (NYSE:BLK - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the eighteen research firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $1,337.19.

A number of analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of BlackRock from $1,315.00 to $1,355.00 and gave the stock a "buy" rating in a report on Thursday, October 15th. Jefferies Financial Group lifted their price target on shares of BlackRock from $1,222.00 to $1,260.00 and gave the company a "buy" rating in a report on Tuesday, October 6th. Weiss Ratings downgraded shares of BlackRock from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, August 11th. Zacks Research downgraded shares of BlackRock from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 25th. Finally, UBS Group increased their price objective on shares of BlackRock from $1,277.00 to $1,300.00 and gave the stock a "buy" rating in a research note on Thursday, October 15th.

BlackRock News Summary

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: BlackRock’s spot Bitcoin ETFs were among the leading beneficiaries of a three-day buying streak, with U.S. Bitcoin ETFs attracting $524.8 million on October 21. Sustained inflows can increase assets under management and fee revenue for BlackRock. Bitcoin ETFs Draw $524.8 Million As BlackRock And Fidelity Lead
• Positive Sentiment: The company filed for the iShares Bitcoin Managed Protection ETF, designed to provide Bitcoin exposure with downside-management features, and launched an actively managed robotics ETF. The products broaden BlackRock’s crypto, artificial-intelligence, and thematic ETF lineup and could support future asset gathering. BlackRock Files Bitcoin Protection ETF And Launches Active Robotics Fund
• Positive Sentiment: BlackRock’s HPS Investment Partners plans to invest up to $434.6 million in TBS Energi Utama, highlighting continued expansion of its private-markets and alternative-investment platform. BlackRock's HPS Investment Partners to Invest Up to $434.6 million in TBS Energi Utama
• Neutral Sentiment: BlackRock joined the Depository Trust & Clearing Corporation’s tokenization initiative with Ripple Prime and JPMorgan. The move strengthens BlackRock’s institutional digital-asset positioning, although its effect on fee revenue and earnings remains uncertain. Ripple Joined DTCC’s Tokenization Push
• Negative Sentiment: CEO Larry Fink warned that a slowdown in data-center construction could raise inflation and contribute to a U.S. recession, adding to macroeconomic concerns for asset managers and markets. Larry Fink Warns Data Center Slowdown Could Push US Into Recession
• Negative Sentiment: The reported transfer of crypto assets to Coinbase Prime may be viewed as a possible liquidation signal, even though there is no confirmation that BlackRock or its ETF investors are selling. BlackRock Moved $262 Million in Bitcoin to Coinbase

BlackRock Price Performance

BLK opened at $1,117.12 on Monday. The company has a market capitalization of $173.01 billion, a P/E ratio of 25.40, a PEG ratio of 1.16 and a beta of 1.41. The company has a 50-day moving average of $1,103.45 and a 200-day moving average of $1,069.70. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.59 and a current ratio of 3.59. BlackRock has a 1-year low of $917.39 and a 1-year high of $1,187.17.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings results on Wednesday, October 14th. The asset manager reported $15.93 EPS for the quarter, topping the consensus estimate of $14.32 by $1.61. The business had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.42 billion. BlackRock had a net margin of 24.22% and a return on equity of 16.08%. The company's quarterly revenue was up 19.1% compared to the same quarter last year. During the same quarter last year, the company posted $8.43 earnings per share. Equities analysts expect that BlackRock will post 57.82 EPS for the current fiscal year.

Hedge Funds Weigh In On BlackRock

Several institutional investors have recently made changes to their positions in BLK. Hedeker Wealth LLC raised its position in shares of BlackRock by 0.3% during the 3rd quarter. Hedeker Wealth LLC now owns 4,134 shares of the asset manager's stock worth $4,375,000 after purchasing an additional 14 shares during the period. Kingswood Wealth Advisors LLC lifted its holdings in shares of BlackRock by 4.4% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 1,196 shares of the asset manager's stock worth $1,266,000 after purchasing an additional 50 shares during the last quarter. Sigma Planning Corp boosted its position in BlackRock by 3.8% during the 3rd quarter. Sigma Planning Corp now owns 962 shares of the asset manager's stock valued at $1,018,000 after purchasing an additional 35 shares during the period. Centerpoint Advisory Group boosted its position in BlackRock by 1.3% during the 3rd quarter. Centerpoint Advisory Group now owns 956 shares of the asset manager's stock valued at $1,012,000 after purchasing an additional 12 shares during the period. Finally, Revolve Wealth Partners LLC boosted its position in BlackRock by 2.9% during the 3rd quarter. Revolve Wealth Partners LLC now owns 360 shares of the asset manager's stock valued at $381,000 after purchasing an additional 10 shares during the period. 80.69% of the stock is owned by institutional investors.

About BlackRock

BlackRock, Inc is a global investment management and financial technology company headquartered in New York. Founded in 1988, the company provides investment, technology and advisory services to institutional and individual investors, governments, foundations and other clients worldwide.

BlackRock offers a broad range of investment products and strategies, including equity and fixed-income funds, index funds, exchange-traded funds through its iShares business, multi-asset portfolios, cash-management products and alternative investments.

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