Block (XYZ): New Buy Recommendation for This Technology Giant

In a report released yesterday, Daniel Perlin from RBC Capital maintained a Buy rating on Block, with a price target of $90.00. The company’s shares closed yesterday at $54.53.

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According to TipRanks, Perlin is an analyst with an average return of -12.4% and a 32.39% success rate. Perlin covers the Technology sector, focusing on stocks such as NCR Voyix, Jack Henry & Associates, and Flywire.

Currently, the analyst consensus on Block is a Strong Buy with an average price target of $86.65, implying a 58.90% upside from current levels. In a report released today, BTIG also maintained a Buy rating on the stock with a $90.00 price target.

Based on Block’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $6.11 billion and a net profit of $461.54 million. In comparison, last year the company earned a revenue of $5.98 billion and had a net profit of $283.75 million

Based on the recent corporate insider activity of 118 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of XYZ in relation to earlier this year. Last month, Ajmere Dale, the CAO of XYZ sold 423.00 shares for a total of $27,063.54.