Block (NYSE:XYZ) Sets New 52-Week High – Still a Buy?

Block, Inc. (NYSE:XYZ)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $86.92 and last traded at $85.9310, with a volume of 2413346 shares changing hands. The stock had previously closed at $83.10.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on XYZ shares. TD Cowen lifted their target price on Block from $101.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Cantor Fitzgerald reissued an “overweight” rating and issued a $95.00 price objective on shares of Block in a research note on Thursday, August 6th. Clear Str raised shares of Block to a “hold” rating in a research note on Thursday, July 16th. Barclays began coverage on shares of Block in a report on Tuesday, July 7th. They issued an “overweight” rating and a $100.00 price objective for the company. Finally, Keefe, Bruyette & Woods upped their target price on shares of Block from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $95.84.

Block Price Performance

The company has a 50 day moving average of $79.26 and a 200 day moving average of $69.79. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.21 and a current ratio of 2.21. The stock has a market capitalization of $51.37 billion, a price-to-earnings ratio of 152.63, a PEG ratio of 0.92 and a beta of 2.53.

Block (NYSE:XYZ) last posted its quarterly earnings results on Wednesday, August 5th. The technology company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.54. The company had revenue of $6.62 billion for the quarter. Block had a return on equity of 8.10% and a net margin of 1.43%.Block’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.62 EPS. Block has set its FY 2026 guidance at 4.020-4.020 EPS and its Q3 2026 guidance at 1.020-1.020 EPS. As a group, equities research analysts anticipate that Block, Inc. will post 2.69 EPS for the current year.

Insider Activity

In other Block news, insider Brian Grassadonia sold 8,173 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $82.42, for a total transaction of $673,618.66. Following the completion of the transaction, the insider owned 513,981 shares in the company, valued at $42,362,314.02. The trade was a 1.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Amrita Ahuja sold 9,511 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $82.43, for a total transaction of $783,991.73. Following the completion of the sale, the chief financial officer directly owned 423,262 shares in the company, valued at approximately $34,889,486.66. This represents a 2.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 495,756 shares of company stock valued at $39,090,259 over the last three months. 11.37% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Block

Several large investors have recently bought and sold shares of XYZ. Elevation Wealth Partners LLC boosted its position in shares of Block by 301.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 389 shares of the technology company’s stock worth $30,000 after acquiring an additional 292 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in shares of Block during the 1st quarter worth about $31,000. Rachor Investment Advisory Services LLC purchased a new stake in Block during the fourth quarter worth approximately $32,000. Cary Street Partners Investment Advisory LLC lifted its stake in Block by 57.6% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 610 shares of the technology company’s stock worth $40,000 after purchasing an additional 223 shares during the last quarter. Finally, Osbon Capital Management LLC purchased a new stake in Block during the fourth quarter worth approximately $43,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Block Company Profile

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.