Block (NYSE:XYZ) Releases FY 2028 Earnings Guidance

Block (NYSE:XYZ) issued an update on its FY 2028 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 5.500-5.500 for the period. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on XYZ. Compass Point reaffirmed a “sell” rating and set a $65.00 price objective (down from $80.00) on shares of Block in a research note on Friday, August 8th. Needham & Company LLC reduced their target price on Block from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $80.00 price target on shares of Block in a report on Tuesday, September 23rd. BNP Paribas cut Block from a “strong-buy” rating to a “hold” rating and set a $86.00 price target for the company. in a report on Tuesday, September 2nd. Finally, The Goldman Sachs Group reduced their price objective on Block from $96.00 to $82.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Block presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.36.

Block Trading Up 7.3%

XYZ traded up $4.19 during trading on Wednesday, reaching $61.83. 19,594,563 shares of the company’s stock were exchanged, compared to its average volume of 7,157,997. The company’s fifty day moving average price is $73.63 and its 200-day moving average price is $70.22. The firm has a market capitalization of $37.57 billion, a PE ratio of 29.26, a P/E/G ratio of 2.97 and a beta of 2.73. Block has a fifty-two week low of $44.27 and a fifty-two week high of $99.26. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.18 and a current ratio of 2.18.

Block (NYSE:XYZ) last released its earnings results on Thursday, November 6th. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.29. The firm had revenue of $6.11 billion for the quarter. Block had a return on equity of 7.41% and a net margin of 12.99%.The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 EPS. As a group, equities analysts forecast that Block will post 2.54 EPS for the current year.

Insider Activity

In related news, insider Owen Britton Jennings sold 1,050 shares of the firm’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $74.77, for a total transaction of $78,508.50. Following the sale, the insider directly owned 253,956 shares in the company, valued at $18,988,290.12. This trade represents a 0.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Ajmere Dale sold 750 shares of the business’s stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $80.00, for a total value of $60,000.00. Following the completion of the sale, the chief accounting officer owned 102,308 shares in the company, valued at approximately $8,184,640. This trade represents a 0.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 115,441 shares of company stock worth $8,778,247. Corporate insiders own 10.85% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Darwin Wealth Management LLC acquired a new position in Block during the second quarter worth approximately $43,000. Federated Hermes Inc. bought a new position in shares of Block during the 2nd quarter worth approximately $53,000. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its holdings in shares of Block by 33.3% during the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 800 shares of the technology company’s stock worth $58,000 after acquiring an additional 200 shares during the last quarter. LGT Financial Advisors LLC bought a new stake in Block in the 3rd quarter valued at $72,000. Finally, Smartleaf Asset Management LLC bought a new stake in Block in the 2nd quarter valued at $82,000. Institutional investors own 70.44% of the company’s stock.

About Block

Square, Inc provides payment and point-of-sale solutions in the United States and internationally. The company's commerce ecosystem includes point-of-sale software and hardware that enables sellers to turn mobile and computing devices into payment and point-of-sale solutions. It offers hardware products, including Magstripe reader, which enables swiped transactions of magnetic stripe cards; Contactless and chip reader that accepts EMV® chip cards and Near Field Communication payments; Chip card reader, which accepts EMV® chip cards and enables swiped transactions of magnetic stripe cards; Square Stand, which enables an iPad to be used as a payment terminal or full point of sale solution; and Square Register that combines its hardware, point-of-sale software, and payments technology, as well as managed payments solutions.