Block (NYSE:XYZ) Price Target Raised to $93.00 at Truist Financial

Block (NYSE:XYZ) had its price target increased by Truist Financial from $82.00 to $93.00 in a report published on Friday, MarketBeat Ratings reports. The firm currently has a buy rating on the technology company’s stock.

Other analysts also recently issued reports about the company. The Goldman Sachs Group raised Block from a “buy” rating to a “buy” rating in a report on Tuesday, June 30th. Rosenblatt Securities set a $100.00 price target on Block in a research report on Tuesday, June 30th. Craig Hallum started coverage on Block in a research note on Tuesday, June 30th. They issued a “buy” rating for the company. Clear Str raised Block to a “hold” rating in a report on Thursday, July 16th. Finally, Piper Sandler raised Block from an “underweight” rating to an “overweight” rating and increased their price objective for the company from $58.00 to $100.00 in a report on Monday, June 29th. Four analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $89.84.

Block Trading Up 0.9%

NYSE XYZ opened at $77.19 on Friday. The firm’s fifty day moving average price is $74.44 and its 200 day moving average price is $67.07. Block has a 12 month low of $48.21 and a 12 month high of $84.08. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.99 and a quick ratio of 1.99. The company has a market capitalization of $45.94 billion, a price-to-earnings ratio of 60.31, a price-to-earnings-growth ratio of 0.96 and a beta of 2.54.

Block (NYSE:XYZ) last announced its quarterly earnings results on Thursday, May 7th. The technology company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.55. Block had a net margin of 3.30% and a return on equity of 7.02%. The firm had revenue of $6.06 billion during the quarter. During the same period last year, the firm earned $0.56 earnings per share. Block’s revenue was up 4.9% on a year-over-year basis. Block has set its Q2 2026 guidance at 0.860-0.860 EPS and its FY 2026 guidance at 3.850-3.850 EPS. On average, sell-side analysts expect that Block will post 2.48 earnings per share for the current fiscal year.

Insider Activity at Block

In related news, CFO Amrita Ahuja sold 8,093 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $75.00, for a total transaction of $606,975.00. Following the transaction, the chief financial officer directly owned 463,246 shares in the company, valued at approximately $34,743,450. This represents a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $76.81, for a total transaction of $10,426,957.50. Following the transaction, the director directly owned 2,032,990 shares of the company’s stock, valued at approximately $156,153,961.90. This represents a 6.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 323,300 shares of company stock worth $24,742,756. 11.37% of the stock is currently owned by insiders.

Institutional Trading of Block

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Baird Financial Group Inc. purchased a new position in Block in the second quarter valued at approximately $1,866,000. Brown Advisory Inc. purchased a new position in Block in the 2nd quarter worth approximately $516,000. Jump Financial LLC acquired a new stake in Block in the second quarter valued at approximately $385,000. Federated Hermes Inc. acquired a new stake in Block in the second quarter valued at approximately $53,000. Finally, Cerity Partners LLC purchased a new stake in shares of Block during the second quarter valued at approximately $1,861,000. 70.44% of the stock is currently owned by institutional investors and hedge funds.

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.