Block (NYSE:XYZ) Given New $105.00 Price Target at Argus

Block (NYSE:XYZ) had its target price hoisted by equities research analysts at Argus from $103.00 to $105.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Argus‘s price target points to a potential upside of 23.66% from the company’s previous close.

XYZ has been the topic of a number of other reports. Clear Str upgraded shares of Block to a “hold” rating in a research report on Thursday, July 16th. KeyCorp increased their price objective on shares of Block from $105.00 to $108.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Royal Bank Of Canada boosted their target price on Block from $95.00 to $103.00 and gave the stock an “outperform” rating in a report on Wednesday. Robert W. Baird upped their target price on Block from $105.00 to $106.00 and gave the stock an “outperform” rating in a research report on Friday, October 2nd. Finally, Keefe, Bruyette & Woods increased their price target on Block from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Three analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $97.87.

Block Stock Performance

Shares of XYZ traded down $2.72 during trading hours on Thursday, reaching $84.91. 1,129,580 shares of the company’s stock traded hands, compared to its average volume of 6,168,645. Block has a twelve month low of $48.21 and a twelve month high of $88.51. The business’s fifty day simple moving average is $77.89 and its two-hundred day simple moving average is $71.30. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.21 and a quick ratio of 2.21. The firm has a market capitalization of $51.01 billion, a price-to-earnings ratio of 114.37, a P/E/G ratio of 0.79 and a beta of 2.58.

Block (NYSE:XYZ) last posted its quarterly earnings data on Tuesday, November 3rd. The technology company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.45. The business had revenue of $6.72 billion during the quarter. Block had a net margin of 1.80% and a return on equity of 9.73%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.54 EPS. Analysts predict that Block will post 2.75 earnings per share for the current year.

Insider Activity

In other news, Director Anthony Eisen sold 6,000 shares of the company’s stock in a transaction on Wednesday, October 28th. The stock was sold at an average price of $74.44, for a total transaction of $446,640.00. Following the completion of the sale, the director directly owned 1,212,672 shares of the company’s stock, valued at $90,271,303.68. This represents a 0.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 226,686 shares of company stock worth $17,861,807 over the last quarter. 11.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Block

Institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp acquired a new position in shares of Block in the second quarter worth about $366,000. PNC Financial Services Group Inc. increased its position in shares of Block by 35.7% in the first quarter. PNC Financial Services Group Inc. now owns 69,637 shares of the technology company’s stock worth $4,191,000 after acquiring an additional 18,326 shares in the last quarter. Nilsine Partners LLC raised its holdings in shares of Block by 295.4% during the second quarter. Nilsine Partners LLC now owns 25,999 shares of the technology company’s stock valued at $1,976,000 after acquiring an additional 19,423 shares during the period. Nykredit A S acquired a new stake in shares of Block during the second quarter valued at approximately $13,291,000. Finally, Swiss National Bank raised its holdings in shares of Block by 6.7% during the first quarter. Swiss National Bank now owns 1,607,286 shares of the technology company’s stock valued at $96,726,000 after acquiring an additional 101,300 shares during the period. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Block News Roundup

Here are the key news stories impacting Block this week:

• Positive Sentiment: Block reported adjusted third-quarter earnings of $1.13 per share, above estimates, while revenue rose 9.9% year over year to $6.72 billion. Gross profit increased 22% to $3.24 billion, with Cash App lending and stronger Square activity driving growth. The company also raised its 2026 profit outlook. These results are the main catalyst behind the rally. Reuters: Block raises full-year profit outlook
• Positive Sentiment: Several analysts raised their price targets after the report. Susquehanna lifted its target to $110 with a positive rating; Bank of America raised its target to $117 and maintained a buy rating; RBC raised its target to $103 with an outperform rating; and TD Cowen increased its target to $109 with a buy rating. Susquehanna rating information
• Neutral Sentiment: Analyst views were not uniformly bullish: Scotiabank maintained sector perform and Morgan Stanley kept an equal-weight rating, while Citizens JMP initiated coverage at hold. Their target changes nonetheless reflected some increase in estimated value. TickerReport analyst coverage
• Negative Sentiment: Block has set aside about $764 million in connection with a preliminary Justice Department settlement over money-laundering controls. The potential cash cost and continued scrutiny of the company’s compliance program could weigh on results and sentiment. Reuters: Block reaches preliminary DOJ settlement

About Block

Block, Inc is a financial technology company that provides payments, commerce, and financial services through an ecosystem of business and consumer products. Formerly known as Square, the company was co-founded by Jack Dorsey and Jim McKelvey and changed its corporate name to Block in 2021.

Its Square ecosystem serves businesses with point-of-sale hardware, payment processing, invoicing, payroll, inventory management, customer engagement, online commerce, and other software tools. Block also offers lending and other financial services to eligible business customers through Square-related products.

For consumers, Block operates Cash App, a mobile financial services platform that supports services such as peer-to-peer payments, money transfers, a Cash App Card, direct deposit, investing, and bitcoin transactions, subject to product and geographic availability.