Ultime notizie per BlackRock (NYSE:BLK) Azioni

BlackRock

BlackRock is the largest asset manager in the world, with $10.646 trillion in assets under management at the end of June 2024. Its product mix is fairly diverse, with 55% of managed assets in equity strategies, 26% in fixed income, 9% in multiasset classes, 7% in money market funds, and 3% in alternatives. Passive strategies account for around two thirds of long-term AUM, with the company's ETF platform maintaining a leading market share domestically and on a global basis. Product distribution is weighted more toward institutional clients, which by our calculations account for around 80% of AUM. BlackRock is geographically diverse, with clients in more than 100 countries and more than one third of managed assets coming from investors domiciled outside the US and Canada.

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TD Cowen analyst Bill Katz maintains BlackRock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) with a Buy and raises the price target from $960 to $1077.

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Price Target

Analyst Ratings

TD Cowen Maintains Buy on BlackRock, Raises Price Target to $1077

BlackRock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) is gearing up to announce its quarterly earnings on Friday, 2024-10-11. Here's a quick overview of what investors should know before the release.
Analysts are estimating that BlackRock will report an earnings per share (EPS) of $10.23.
Anticipation surrounds BlackRock's announcement, with investors hoping to hear about both surpassing estimates and receiving positive guidance for the next quarter.
New investors should understand that while earnings performance is important, market reactions are often driven by guidance.
<h3>Earnings History Snapshot</h3>
During the last quarter, the company reported an EPS beat by $0.41, leading to a 2.55% increase in the share price on the subsequent day.
Here's a look at BlackRock's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>9.95</td>
<td>9.32</td>
<td>8.84</td>
<td>8.26</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>10.36</td>
<td>9.81</td>
<td>9.66</td>
<td>10.91</td>
</tr>
<tr>
<td>Price Change %</td>
<td>3.0%</td>
<td>-3.0%</td>
<td>1.0%</td>
<td>-1.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1728568834_0.png" alt="eps graph" />
<h3>Tracking BlackRock's Stock Performance</h3>
Shares of BlackRock were trading at $955.92 as of October 09. Over the last 52-week period, shares are up 52.17%. Given that these returns are generally positive, long-term shareholders should be satisfied going into this earnings release. 
<h3>Analysts' Perspectives on BlackRock</h3>
Understanding market sentiments and expectations within the industry is crucial for investors. This analysis delves into the latest insights on BlackRock.
A total of 17 analyst ratings have been received for BlackRock, with the consensus rating being Outperform. The average one-year price target stands at $978.12, suggesting a potential 2.32% upside.
<h3>Peer Ratings Comparison</h3>
In this comparison, we explore the analyst ratings and average 1-year price targets of KKR, Brookfield and Ares Management, three prominent industry players, offering insights into their relative performance expectations and market positioning.
<ul>
<li>The consensus outlook from analysts is an Outperform trajectory for KKR, with an average 1-year price target of $140.65, indicating a potential 85.29% downside.</li>
<li>Analysts currently favor an Outperform trajectory for Brookfield, with an average 1-year price target of $49.96, suggesting a potential 94.77% downside.</li>
<li>Analysts currently favor an Neutral trajectory for Ares Management, with an average 1-year price target of $157.0, suggesting a potential 83.58% downside.</li>
</ul>
<h3>Key Findings: Peer Analysis Summary</h3>
The peer analysis summary provides a snapshot of key metrics for KKR, Brookfield and Ares Management, illuminating their respective standings within the industry. These metrics offer valuable insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>BlackRock</td>
<td>Outperform</td>
<td>7.66%</td>
<td>$2.31B</td>
<td>3.75%</td>
</tr>
<tr>
<td>KKR</td>
<td>Outperform</td>
<td>14.54%</td>
<td>$980.89M</td>
<td>3.10%</td>
</tr>
<tr>
<td>Brookfield</td>
<td>Outperform</td>
<td>-2.61%</td>
<td>$3.90B</td>
<td>0.00%</td>
</tr>
<tr>
<td>Ares Management</td>
<td>Neutral</td>
<td>-20.67%</td>
<td>$718.06M</td>
<td>5.04%</td>
</tr>
</tbody>
</table>

Key Takeaway:
BlackRock ranks first in revenue growth among its peers. It also leads in gross profit. However, it ranks second in return on equity.
<h3>Unveiling the Story Behind BlackRock</h3>
BlackRock is the largest asset manager in the world, with $10.646 trillion in assets under management at the end of June 2024. Its product mix is fairly diverse, with 55% of managed assets in equity strategies, 26% in fixed income, 9% in multiasset classes, 7% in money market funds, and 3% in alternatives. Passive strategies account for around two thirds of long-term AUM, with the company's ETF platform maintaining a leading market share domestically and on a global basis. Product distribution is weighted more toward institutional clients, which by our calculations account for around 80% of AUM. BlackRock is geographically diverse, with clients in more than 100 countries and more than one third of managed assets coming from investors domiciled outside the US and Canada.
<h3>Understanding the Numbers: BlackRock's Finances</h3>
Market Capitalization Analysis: With an elevated market capitalization, the company stands out above industry averages, showcasing substantial size and market acknowledgment.
Positive Revenue Trend: Examining BlackRock's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 7.66% as of 30 June, 2024, showcasing a substantial increase in top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Financials sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 31.11%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of 3.75%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): BlackRock's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of 1.2%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: BlackRock's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.29.
<a href="https://www.benzinga.com/quote/BLK/earnings">To track all earnings releases for BlackRock visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

Earnings Outlook For BlackRock

<a href="https://www.bloomberg.com/news/articles/2024-10-09/blackrock-among-suitors-said-to-explore-buying-credit-firm-hps">https://www.bloomberg.com/news/articles/2024-10-09/blackrock-among-suitors-said-to-explore-buying-credit-firm-hps</a>
&nbsp;
BlackRock Inc. is among firms exploring a purchase of HPS Investment Partners, according to people with knowledge of the matter, in a deal that would push the world's biggest asset manager into the top ranks of the private-credit market.

Reported Earlier, 'BlackRock Is Among Suitors Exploring Purchase of Credit Firm HPS' - Bloomberg

Wells Fargo analyst Michael Brown maintains BlackRock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) with a Overweight and raises the price target from $1000 to $1070.

Wells Fargo Maintains Overweight on BlackRock, Raises Price Target to $1070

U.S. spot Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) exchange-traded funds saw significant inflows, totaling $235.19 million on Monday, bucking the trend of net outflows in <a href="https://www.benzinga.com/top-stories/24/10/41207224/bitcoin-ethereum-etfs-saw-147m-net-outflows-chances-of-second-50-basis-point-interest-rate-cut-evapo">the previous week</a>.
What Happened: <a href="https://www.theblock.co/post/319949/us-spot-bitcoin-etfs-saw-235-million-in-net-inflows-yesterday-led-by-fidelitys-fbtc?utm_source=rss&amp;utm_medium=rss">According to</a> The Block, Fidelity&#8216;s (BATS:<a class="ticker" href="https://www.benzinga.com/stock/FBTC#BATS">FBTC</a>) led the charge with $103.68 million in inflows. BlackRock&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) the largest <a href="https://www.benzinga.com/money/best-spot-bitcoin-etfs">spot bitcoin ETF</a> by net assets, followed closely with $97.88 million.
Bitwise&#8216;s (BATS:<a class="ticker" href="https://www.benzinga.com/stock/BITB#BATS">BITB</a>) reported $13.09 million in inflows, while Ark and 21Shares&#8216; (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKB#BATS">ARKB</a>) saw $12.63 million.
VanEck&#8216;s (BATS:<a class="ticker" href="https://www.benzinga.com/stock/HODL#BATS">HODL</a>) and Invesco&#8216;s (BATS:<a class="ticker" href="https://www.benzinga.com/stock/BTCO#BATS">BTCO</a>) recorded inflows of $5.37 million and $2.53 million, respectively. Meanwhile, Grayscale&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GBTC#OTC">GBTC</a>) and six other ETFs reported no inflows. The combined trading volume for these ETFs reached $1.22 billion, a slight increase from previous days.
In contrast, U.S. <a href="https://www.benzinga.com/money/what-is-ethereum-etf#:~:text=A%20Spot%20Ethereum%20ETF%20could,stable%20prices%20and%20reduced%20volatility.">spot Ethereum ETFs</a> saw no inflows on Monday, following mixed results last week. 
Bitcoin&#8217;s price dipped 1.4% to $62,457, while Ethereum fell 1.3% to $2,442, according to The Block&#8217;s price data.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41181870/in-2022-maxine-waters-wanted-to-subpoena-sam-bankman-fried-now-she-thinks-crypto-is-inevit">In 2022, Maxine Waters Wanted To Subpoena Sam Bankman Fried—Now She Thinks Crypto Is &#8216;Inevitable&#8217;</a>
Why It Matters: On Monday, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41214754/microstrategy-analyst-projects-64-upside-to-stock-based-on-bitcoin-acquisition-stra">MicroStrategy</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) surged to a six-month high as Bitcoin&#8217;s price struggled with a key moving average.
This volatility was mirrored in the <a href="https://www.benzinga.com/markets/equities/24/10/41213960/stocks-slip-as-oil-prices-surge-10-year-yields-cross-4-energy-sector-outperforms-whats-driving-m">broader stock market</a>, with the S&amp;P 500 and Nasdaq experiencing declines of over 1% during the afternoon session. Volatility index VIX also spiked 19%, reaching its highest level in a month, Coindesk <a href="https://www.coindesk.com/markets/2024/10/07/microstrategy-surges-to-6-month-high-as-bitcoin-wrestles-with-key-moving-average/?utm_medium=referral&amp;utm_source=rss&amp;utm_campaign=headlines">reported</a>.
Analysts at QCP Capital <a href="https://www.theblock.co/post/319754/qcp-capital-uptober-bitcoin-recovery">stated</a> in a note that Bitcoin&#8217;s &#8216;Uptober&#8217; &#8220;seems to be back on track.&#8221; They highlighted macro drover helping Bitcoin to remain above the $60,000 mark but cautioned that Thursday&#8217;s CPI will be a key data point to determine a near-term price trend.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41171878/franklin-templeton-seeks-sec-approval-for-dual-bitcoin-ethereum-index-etf">Franklin Templeton Seeks SEC Approval For Dual Bitcoin, Ethereum Index ETF</a></li>
</ul>
Image: Shutterstock

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Cryptocurrency

$BTC

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BITB

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BTCO

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FBTC

GBTC

HODL

IBIT

MSTR

Bitcoin Dips Below $62,500 As Spot ETFs Book $235M Net Inflows

Financial giants have made a conspicuous bearish move on BlackRock. Our analysis of options history for BlackRock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) revealed 12 unusual trades.
Delving into the details, we found 33% of traders were bullish, while 41% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $163,310, and 9 were calls, valued at $399,622.
<h3>Expected Price Movements</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $900.0 and $1160.0 for BlackRock, spanning the last three months.
<h3>Insights into Volume &amp; Open Interest</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for BlackRock's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across BlackRock's significant trades, within a strike price range of $900.0 to $1160.0, over the past month.
<h3>BlackRock 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728333027_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>BLK</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$3.9</td>
<td>$3.4</td>
<td>$3.4</td>
<td>$1000.00</td>
<td>$134.9K</td>
<td style="text-align: right;">77</td>
<td style="text-align: right;">402</td>
</tr>
<tr>
<td>BLK</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$19.4</td>
<td>$18.7</td>
<td>$19.4</td>
<td>$900.00</td>
<td>$85.3K</td>
<td style="text-align: right;">67</td>
<td style="text-align: right;">44</td>
</tr>
<tr>
<td>BLK</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$25.5</td>
<td>$24.4</td>
<td>$25.5</td>
<td>$920.00</td>
<td>$51.0K</td>
<td style="text-align: right;">15</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>BLK</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>03/21/25</td>
<td>$43.7</td>
<td>$38.6</td>
<td>$41.15</td>
<td>$1000.00</td>
<td>$41.1K</td>
<td style="text-align: right;">341</td>
<td style="text-align: right;">10</td>
</tr>
<tr>
<td>BLK</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>10/11/24</td>
<td>$24.3</td>
<td>$19.5</td>
<td>$21.49</td>
<td>$940.00</td>
<td>$40.8K</td>
<td style="text-align: right;">261</td>
<td style="text-align: right;">27</td>
</tr>
</tbody>
</table>

<h3>About BlackRock</h3>
BlackRock is the largest asset manager in the world, with $10.646 trillion in assets under management at the end of June 2024. Its product mix is fairly diverse, with 55% of managed assets in equity strategies, 26% in fixed income, 9% in multiasset classes, 7% in money market funds, and 3% in alternatives. Passive strategies account for around two thirds of long-term AUM, with the company's ETF platform maintaining a leading market share domestically and on a global basis. Product distribution is weighted more toward institutional clients, which by our calculations account for around 80% of AUM. BlackRock is geographically diverse, with clients in more than 100 countries and more than one third of managed assets coming from investors domiciled outside the US and Canada.
After a thorough review of the options trading surrounding BlackRock, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Where Is BlackRock Standing Right Now?</h3>
<ul>
<li>With a volume of 560,163, the price of BLK is down -0.9% at $940.67. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 4 days.</li>
</ul>
<h3>What The Experts Say On BlackRock</h3>
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $1003.8.
Unusual Options Activity Detected: Smart Money on the Move
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&#x2A; An analyst from Evercore ISI Group has decided to maintain their Outperform rating on BlackRock, which currently sits at a price target of $995. 
&#x2A; An analyst from JP Morgan has decided to maintain their Neutral rating on BlackRock, which currently sits at a price target of $864. 
&#x2A; An analyst from Morgan Stanley has decided to maintain their Overweight rating on BlackRock, which currently sits at a price target of $1150. 
&#x2A; In a cautious move, an analyst from Wells Fargo downgraded its rating to Overweight, setting a price target of $1000. 
&#x2A; Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on BlackRock with a target price of $1010. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest BlackRock options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

Markets

Smart Money Is Betting Big In BLK Options

Barclays analyst Benjamin Budish maintains BlackRock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) with a Overweight and raises the price target from $990 to $1010.

Barclays Maintains Overweight on BlackRock, Raises Price Target to $1010

Morgan Stanley analyst Mike Cyprys maintains BlackRock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) with a Overweight and raises the price target from $1036 to $1150.

Morgan Stanley Maintains Overweight on BlackRock, Raises Price Target to $1150

Evercore ISI Group analyst Glenn Schorr maintains BlackRock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) with a Outperform and raises the price target from $945 to $995.

Evercore ISI Group Maintains Outperform on BlackRock, Raises Price Target to $995

Goldman Sachs analyst Alexander Blostein maintains BlackRock Finance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) with a Buy and raises the price target from $960 to $1040.

Goldman Sachs Maintains Buy on BlackRock Finance, Raises Price Target to $1040

Providing a diverse range of perspectives from bullish to bearish, 15 analysts have published ratings on BlackRock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) in the last three months.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">8</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $945.47, a high estimate of $1036.00, and a low estimate of $837.00. This upward trend is evident, with the current average reflecting a 2.48% increase from the previous average price target of $922.62.
<img src="https://www.benzinga.com/files/images/story/2024/1727812827_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
The standing of BlackRock among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Kenneth Worthington</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$864.00</td>
<td>$774.00</td>
</tr>
<tr>
<td>Michael Brown</td>
<td>Wells Fargo</td>
<td>Announces</td>
<td>Overweight</td>
<td>$1000.00</td>
<td>-</td>
</tr>
<tr>
<td>Benjamin Budish</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$990.00</td>
<td>$985.00</td>
</tr>
<tr>
<td>Glenn Schorr</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$945.00</td>
<td>$920.00</td>
</tr>
<tr>
<td>Benjamin Budish</td>
<td>Barclays</td>
<td>Announces</td>
<td>Overweight</td>
<td>$985.00</td>
<td>-</td>
</tr>
<tr>
<td>Brian Bedell</td>
<td>Deutsche Bank</td>
<td>Raises</td>
<td>Buy</td>
<td>$937.00</td>
<td>$912.00</td>
</tr>
<tr>
<td>William Katz</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$930.00</td>
<td>$920.00</td>
</tr>
<tr>
<td>Brian Bedell</td>
<td>Deutsche Bank</td>
<td>Lowers</td>
<td>Buy</td>
<td>$912.00</td>
<td>$924.00</td>
</tr>
<tr>
<td>Glenn Schorr</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$920.00</td>
<td>$910.00</td>
</tr>
<tr>
<td>Stephen Biggar</td>
<td>Argus Research</td>
<td>Raises</td>
<td>Buy</td>
<td>$910.00</td>
<td>$880.00</td>
</tr>
<tr>
<td>Mike Cyprys</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$1036.00</td>
<td>$1013.00</td>
</tr>
<tr>
<td>Aidan Hall</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Outperform</td>
<td>$934.00</td>
<td>$915.00</td>
</tr>
<tr>
<td>Mike Cyprys</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$1013.00</td>
<td>$1025.00</td>
</tr>
<tr>
<td>Brennan Hawken</td>
<td>UBS</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$837.00</td>
<td>$842.00</td>
</tr>
<tr>
<td>Bill Katz</td>
<td>TD Cowen</td>
<td>Lowers</td>
<td>Buy</td>
<td>$969.00</td>
<td>$974.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to BlackRock. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of BlackRock compared to the broader market.</li>
<li>Price Targets: Understanding forecasts, analysts offer estimates for BlackRock's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of BlackRock's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/BLK/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on BlackRock analyst ratings.</a>
<h2>All You Need to Know About BlackRock</h2>
BlackRock is the largest asset manager in the world, with $10.646 trillion in assets under management at the end of June 2024. Its product mix is fairly diverse, with 55% of managed assets in equity strategies, 26% in fixed income, 9% in multiasset classes, 7% in money market funds, and 3% in alternatives. Passive strategies account for around two thirds of long-term AUM, with the company's ETF platform maintaining a leading market share domestically and on a global basis. Product distribution is weighted more toward institutional clients, which by our calculations account for around 80% of AUM. BlackRock is geographically diverse, with clients in more than 100 countries and more than one third of managed assets coming from investors domiciled outside the US and Canada.
<h3>BlackRock's Financial Performance</h3>
Market Capitalization Analysis: The company's market capitalization is above the industry average, indicating that it is relatively larger in size compared to peers. This may suggest a higher level of investor confidence and market recognition.
Revenue Growth: Over the 3 months period, BlackRock showcased positive performance, achieving a revenue growth rate of 7.66% as of 30 June, 2024. This reflects a substantial increase in the company's top-line earnings. When compared to others in the Financials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 31.11%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): BlackRock's ROE falls below industry averages, indicating challenges in efficiently using equity capital. With an ROE of 3.75%, the company may face hurdles in generating optimal returns for shareholders.
Return on Assets (ROA): BlackRock's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of 1.2%, the company may face hurdles in achieving optimal financial performance.
Debt Management: BlackRock's debt-to-equity ratio is below the industry average at 0.29, reflecting a lower dependency on debt financing and a more conservative financial approach.
<h2>Analyst Ratings: What Are They?</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
Breaking: Wall Street's Next Big Mover
Benzinga's #1 analyst just identified a stock poised for explosive growth. This under-the-radar company could surge 200%+ as major market shifts unfold. <a href="https://www.benzinga.com/premium/ideas/turning-point-trader-checkout-2/?t=Tu1tu3arja3be22tu36&amp;utm_source=benzinga-insights">Click here for urgent details</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Analyst Landscape: 15 Takes On BlackRock

JP Morgan analyst Kenneth Worthington maintains BlackRock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) with a Neutral and raises the price target from $774 to $864.

JP Morgan Maintains Neutral on BlackRock, Raises Price Target to $864

A marketing company that counts actor Ryan Reynolds as its chief creative officer plans to go public in 2025, adding to the recent success stories for the actor best known for playing "Deadpool"<a href="https://www.benzinga.com/general/entertainment/24/09/40737439/ryan-reynolds-dominates-box-office-as-deadpool-while-also-building-billion-dollar-businesse"> on the big screen.</a>
What Happened: Connected TV advertising company MNTN, is the owner of the <a href="https://www.benzinga.com/general/entertainment/23/07/33427835/ryan-reynolds-is-bringing-a-popular-television-alien-back-to-screens-hide-your-cats">Maximum Effort marketing segment</a> co-founded by Reynolds and George Dewey in 2018.
Known best for its advertisements to promote "Deadpool" and other viral advertisements for companies connected to Reynolds, Maximum Effort Marketing was bought out by MNTN in 2021.
MNTN is eyeing a 2025 IPO according to a new report from <a href="https://www.bloomberg.com/news/articles/2024-09-27/ryan-reynolds-s-mntn-is-said-to-tap-morgan-stanley-for-2025-ipo?sref=TBDibEcD">Bloomberg</a>, with Morgan Stanley set to work on the public offering.
The connected TV advertising company raised $119 million in a Series D round in 2021 with BlackRock Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) and Fidelity Management leading the round with $110 million invested together.
The Maximum Effort name comes from a catchphrase of Reynolds' Deadpool character. A separate Maximum Effort Productions company was not included in the sale to MNTN and is not part of the IPO. Dewey serves as the chief brand officer at Maximum Effort Marketing.
The marketing company from Reynolds has made ads for companies like Aviation Gin and Mint Mobile, which are connected to the actor. The company also made a well-known ad for dating company Match.com that <a href="https://www.youtube.com/watch?v=KABSYzPqTTg">featured </a>Satan and marked the debut of Taylor Swift's re-recording of the hit song "Love Story."
"I genuinely love marketing and I have been gobsmacked by how much fun it has been and how fast we have grown. We wanted a future for our marketing arm that ensured we could continue to move fast, have fun and do really rewarding work," Reynolds said at the time of MNTN's acquisition.
Reynolds said MNTN's simplicity, speech and ability to open up access to TV for advertisers who can't pay for upfront agreements stood out.
"I believe the combination of our companies will create a 1+1 equals 3 situation, assuming my math checks out," Reynolds added at the time.
Did You Know?
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent093024">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: In a world of connected TV and viral advertisements that have to be quick and catchy, MNTN could stand out in a crowded field. The company's involvement in Reynolds and connection to several of his companies and movies could also help power growth in the coming years.
Aside from Maximum Effort Marketing and MNTN, Reynolds has built up several companies that are part of his success story away from the big screen.
The actor was a <a href="https://www.benzinga.com/m-a/23/03/31362824/ryan-reynolds-mobile-company-gets-1-35b-buyout-from-t-mobile-will-he-purchase-an-nhl-team-with-that">co-owner in Mint Mobile, </a>which was sold to T-Mobile US Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NYSE">TMUS</a>) at a $1.35 billion valuation. Reynolds had a stake in Aviation Gian, which was sold to Diageo plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEO#NYSE">DEO</a>) for $610 million in 2020.
Reynolds is also a<a href="https://www.benzinga.com/general/entertainment/24/04/38530584/ryan-reynolds-rob-mcelhenney-buy-another-soccer-team-can-dynamic-duo-turn-around-mexico-clu"> co-owner in soccer team</a> Wrexham AFC, owns a stake in Mexican soccer team Necaxa, and owns a stake in a Liberty Media Corporation Formula 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FWONA#NASDAQ">FWONA</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FWONK#NASDAQ">FWONK</a>) racing team. The actor was also among the previously interested parties in buying the Ottawa Senators NHL team.
While it is unknown if Reynolds owns a stake in MNTN, the IPO likely comes thanks in part to the success of Maximum Effort Marketing in recent years. The IPO could further illustrate the success Reynolds has had outside of acting.
Check This Out:
<ul>
<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent093024">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Photo: Shutterstock

Entertainment

IPOs

FWONA

FWONK

TMUS

Ryan Reynolds' Billion-Dollar Streak: Will His Viral Marketing Firm Go Public Next?

The quarterly performance of Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), and Micron Technology, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) adequately reflects that the <a target="_blank" href="https://www.benzinga.com/news/earnings/24/09/41046485/whats-going-on-with-nvidia-braodcom-intel-and-other-chip-stocks-on-thursday" rel="noreferrer noopener">artificial intelligence wave</a> is in no mood to slow down in the near term.
Hyperscalers, including Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Google parent Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Amazon.Com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) remain aggressively invested in their artificial intelligence ambitions. The U.S. and China&#8217;s key rate cuts also added an additional tailwind for the capital-intensive industry.
Microsoft committed 14.7 billion Reais ($2.70 billion) over three years to Brazil&#8217;s cloud and artificial intelligence (AI) infrastructure, according to a Reuters report.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41055252/microns-ai-driven-hbm-demand-and-data-center-growth-to-fuel-stock-upside-analysts-s" rel="noreferrer noopener">Micron&#8217;s AI-Driven HBM Demand and Data Center Growth to Fuel Stock Upside, Analysts Say</a>
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/27051414/newplot-23.png" alt="" class="wp-image-569372" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/27051414/newplot-23.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/27051414/newplot-23-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
The company&#8217;s ConectAI program will train 5 million people with AI skills over the next three years. Microsoft already has two Azure regions: one in São Paulo state, which it launched in 2014, and another in Rio de Janeiro, which it launched in 2020.
Earlier this week, Microsoft <a target="_blank" href="https://www.benzinga.com/government/24/09/41020845/microsoft-invests-1-3b-to-boost-ai-skills-and-infrastructure-in-mexico" rel="noreferrer noopener">earmarked $1.3 billion</a> over the next three years to drive Mexico&#8217;s AI infrastructure and initiatives, including training 5 million people. Microsoft also collaborated with BlackRock, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) and other partners, forging a fresh $30 billion investment fund to <a target="_blank" href="https://www.benzinga.com/news/24/09/40909973/blackrock-microsoft-others-team-up-for-30b-artificial-intelligence-fund-help-us-fuel-ai-innovation-a" rel="noreferrer noopener">tap the AI wave</a>.
Google is eyeing a $3.3 billion investment in South Carolina to build two new data centers. The search engine giant&#8217;s plans included two new data center campuses in Dorchester County and expanding its existing data center campus in Berkeley County, Reuters cites the South Carolina governor&#8217;s office as saying.
Alphabet committed $2 billion to the Dorchester County facilities, potentially creating 200 new operational jobs. According to Reuters, the company also earmarked $1.3 billion for Berkeley County.
Another positive update for the industry is the <a target="_blank" href="https://www.ft.com/content/ff0ca77d-ad35-45ba-a493-201a26932efb" rel="noreferrer noopener">report</a> indicating struggling chipmaker Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) and the U.S. government are trying to finalize the $8.5 billion in direct funding for the chipmaker before the end of the year.
Therefore, Intel&#8217;s exploration of stake sales to companies like Qualcomm Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) could also disrupt its chances of bagging the subsidy over antitrust grounds. Intel had already faced <a target="_blank" href="https://www.benzinga.com/m-a/24/08/40648165/intel-weighs-major-business-split-factory-delays-amid-strategic-review-report" rel="noreferrer noopener">Senator scrutiny over</a> its cost-cutting measures as the subsidy aims to create additional U.S. jobs.
Semiconductor ETFs VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>) and iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) gained 5%-6% in the last 5 days.
Price Actions: INTC stock is up 1.21% to $24.21 premarket at last check on Friday.
Also Read:
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<li><a href="https://www.benzinga.com/news/24/09/41054106/meta-analysts-highlight-ai-vr-advances-see-growth-pushing-it-toward-apple-like-valuation" target="_blank" rel="noreferrer noopener">Meta Analysts Highlight AI, VR Advances, See Growth Pushing It Toward Apple-Like Valuation</a></li>
</ul>
Image Via Shutterstock

Tech

Media

AMZN

AVGO

GOOG

GOOGL

INTC

MSFT

NVDA

QCOM

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

Microsoft, Google, Meta Pave Path to AI Expansion, Nvidia and Broadcom Set to Reap Benefits

BlackRock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) has outperformed the market over the past 20 years by 5.06% on an annualized basis producing an average annual return of 13.46%. Currently, BlackRock has a market capitalization of $138.87 billion. 
Buying $100 In BLK: If an investor had bought $100 of BLK stock 20 years ago, it would be worth $1,264.42 today based on a price of $937.49 for BLK at the time of writing.
<h3>BlackRock's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727375416_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

$100 Invested In This Stock 20 Years Ago Would Be Worth $1,300 Today

The agreement follows an initial transaction whereby funds and accounts managed by BlackRock agreed to provide financing on a $600 million diversified portfolio of infrastructure credit from Santander.

BlackRock, Santander Expand Partnership For Private Asset Financing; Blackrock To Invest Up To $1B Per Year In Select Project Finance, Energy Finance, And Infrastructure Debt Investment Opportunities

Global financial services company The Bank of New York Mellon Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) secured an exception from the U.S. Securities and Exchange Commission&#8217;s (SEC) contentious SAB 121 rule, paving the way for its entry into the lucrative but largely untapped cryptocurrency custody market.
What Happened: The regulator did not raise any objections to BNY&#8217;s plan to safeguard cryptocurrency assets for its exchange-traded product clients, without reflecting these assets on the bank&#8217;s balance sheet, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-09-24/bny-plans-to-custody-crypto-for-etfs-after-sec-review">reported</a> Tuesday.
This is a significant development considering the ongoing debate around the SEC&#8217;s SAB 121 rule, which mandates that companies holding customers' cryptocurrencies <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38880951/senate-votes-to-overturn-controversial-sec-crypto-rule-but-will-biden-veto-it">must record them on their balance sheets</a>. Banks have been critical of this rule, arguing that it hampers their ability to custody digital assets.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41017645/elon-musk-applauds-pro-bitcoin-el-salvador-president-nayib-bukele-for-un-address-we-do-not">Elon Musk Applauds Pro-Bitcoin El Salvador President Nayib Bukele For UN Address</a>
BNY clarified that the SEC&#8217;s non-objection is limited to its ETP use case and does not address the broader issue of SAB 121 restricting bank custody of digital assets. The bank intends to continue its engagement with the Office of the Chief Accountant (OCA) on additional use cases through the OCA&#8217;s &#8216;facts and circumstances&#8217; process.
Why It Matters: A TradFi giant, BNY holds more than $50 trillion in assets as of June 30. Its decision to step into the digital custodian market could be influenced by the successful launch of spot Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) exchange-traded funds (ETFs) earlier this year.
Currently, the market is lop-sided, with Coinbase being the primary custodian for most ETFs. Its hegemony was challenged somewhat after Anchorage Digital Bank <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40835527/crypto-bank-anchorage-digital-challenges-coinbases-etf-custody-dominance">secured a role as custodian</a> for the&nbsp;ARK 21Shares Bitcoin ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKB#BATS">ARKB</a>).
This development comes amidst a broader debate around the SEC&#8217;s SAB 121 rule. Republican lawmakers from both the Senate and House <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41007125/caitlin-long-says-progressives-are-actually-big-bank-corporatists-as-republican-lawmakers-">urged the SEC to retract this controversial accounting rule</a> for cryptocurrency assets.
It is the only cryptocurrency-related legislation to pass through the House and Senate, although it was vetoed by the White House in May.
Price Action: Shares of BNY closed 0.27% lower at $71.87 during Tuesday&#8217;s regular trading session, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
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Photo courtesy: Shutterstock

$ETH

BNY Mellon Gets Exemption From SEC's Controversial Crypto Custody Rule: Will It Challenge Coinbase's Hegemony In Holding Assets For Bitcoin And Ethereum ETFs?

BlackRock (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/blk#NYSE">BLK</a>) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.
The sole determinant of the Zacks rating is a company&#39;s changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.
Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as these are mostly driven by subjective factors that are hard to see and measure in real time.
Therefore, the Zacks rating upgrade for BlackRock basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.
<h2>Most Powerful Force Impacting Stock Prices</h2>
The change in a company&#39;s future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. That&#39;s partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company&#39;s shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.
For BlackRock, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company&#39;s underlying business. And investors&#39; appreciation of this improving business trend should push the stock higher.
<h2>Harnessing the Power of Earnings Estimate Revisions</h2>
As empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988.
<h2>Earnings Estimate Revisions for BlackRock</h2>
For the fiscal year ending December 2024, this investment firm is expected to earn $41.37 per share, which is a change of 9.5% from the year-ago reported number.
Analysts have been steadily raising their estimates for BlackRock. Over the past three months, the Zacks Consensus Estimate for the company has increased 0.3%.
<h2>Bottom Line</h2>
Unlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of &#39;buy&#39; and &#39;sell&#39; ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a &#39;Strong Buy&#39; rating and the next 15% get a &#39;Buy&#39; rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
The upgrade of BlackRock to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
<a href="https://www.zacks.com/stock/news/2340060/blackrock-blk-upgraded-to-buy-here-s-what-you-should-know?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_12_zacks_rank_upgrade-2340060">To read this article on Zacks.com click here.</a>

Large Cap

Upgrades

BlackRock Upgraded to Buy: Here's What You Should Know

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) spot ETFs recorded a small net inflow of $4.56 million on Monday as miner revenues signal a potential uptrend <a href="https://www.benzinga.com/money/bitcoin-price-prediction">in the making.</a>
What Happened: Significant contributions came from Fidelity&#8217;s ETF (CBOE: FBTC), which added $24.93 million, and the BlackRock ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>), with an inflow of $11.54 million.
However, Grayscale's (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GBTC#OTC">GBTC</a>) recorded a notable outflow of $40.33 million, reflecting mixed sentiment within the market, according to <a href="https://sosovalue.xyz/assets/etf/us-btc-spot">data</a> from SoSo Value.
Meanwhile, Ethereum spot ETFs experienced a major outflow of $79.21 million, largely driven by a $80.55 million outflow from Grayscale's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETHE#NYSE">ETHE</a>), though Bitwise's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETHW#NYSE">ETHW</a>) saw a modest inflow of $1.34 million, <a href="https://sosovalue.xyz/assets/etf/us-eth-spot">data</a> shows.
Bitcoin continues to hover near $63,500, up just 0.1% over the past 24 hours, while Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) has seen a slight decline, trading down 0.1% at $2,642.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40989892/bitcoins-22-rally-isnt-enough-it-must-break-august-high-to-overcome-downtrend-bitfinex-ana">Bitcoin&#8217;s 22% Rally Isn&#8217;t Enough, It Must Break August High To Overcome Downtrend, Bitfinex Analysts Say</a>
Why It Matters: As institutional interest in Bitcoin ETFs persists, industry experts are weighing in on what could drive prices in the near term.
Eric Balchunas, Senior ETF Analyst at Bloomberg, <a href="https://x.com/EricBalchunas/status/1838296036772593716">highlighted</a> BlackRock&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) method of securing its Bitcoin holdings, stating, &#8220;BlackRock runs their own blockchain node and ensures that Coinbase Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) deposits Bitcoin directly on-chain within 12 hours of instruction. This is why they, and other major ETF issuers, are trusted by America&#8217;s advisors—they've perfected this process over decades.&#8221;
Balchunas&#8217; comments underline the trust institutions place in BlackRock's processes, which remain key to the continued confidence in Bitcoin ETFs.
On the broader market dynamics, Iliya Kalchev, a Nexo Dispatch Analyst, pointed out the potential impact of Bitcoin miners on price action. 
"Bitcoin miner revenues remain at multi-year lows, creating the potential for price appreciation if miners start distributing Bitcoin at higher prices to sustain their operations," he told Benzinga. 
Kalchev added that traders, rather than investors, could be the primary drivers of Bitcoin's short-term moves, with Bitcoin open interest at over $25 billion. 
He highlighted that a breakout above $66,000 would signal growing optimism as the options market currently favors calls above that level.
Ilia Otychenko, Lead Analyst at CEX.IO, provided a technical analysis of Bitcoin's current resistance levels. 
"Bitcoin remains near the 200-day SMA and the previous local high, both key resistance levels. A sustained break above the 200-day SMA could drive Bitcoin toward the $66,000–$67,300 supply zone. However, failure at these levels may lead to consolidation or a drop to $62,700," Otychenko explained. 
He also noted that, while Bitcoin has tested major resistance, low trading volumes during the attempt have prevented further gains.
Despite short-term uncertainties, Otychenko remains bullish on Bitcoin's longer-term outlook. 
"The weekly RSI has broken above its descending resistance trendline, a historically bullish indicator. If this pattern holds, Bitcoin could be on track for a new all-time high in the coming months," he added.
What&#8217;s Next: Industry experts will have the opportunity to explore these themes in depth at Benzinga&#8217;s <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40990471/donald-trumps-crypto-portfolio-surges-by-over-800k-in-september">Donald Trump&#8217;s Crypto Portfolio Surges By Over $800K In September</a></li>
</ul>
Image: Shutterstock

COIN

ETHE

ETHW

Bitcoin ETFs See $4.5M Inflow, But Miners Could Actually Cause The Next Big Move Up

The U.S. Securities and Exchange Commission (SEC) has given the green light for the listing and trading of options for BlackRock Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) spot Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) exchange-traded fund (ETF).
What Happened: The approved options will be listed on the Nasdaq under the ticker symbol &#8220;IBIT.&#8221; This move allows institutional investors and traders to hedge their exposure to bitcoin more efficiently.
Options trading provides a cost-effective way to amplify exposure to bitcoin, offering an alternative method for managing investments in the world&#8217;s largest cryptocurrency. The approval marks another significant step for cryptocurrency, which has been gaining mainstream acceptance.
See Also: <a href="https://www.benzinga.com/news/24/09/40953535/anybody-who-votes-for-a-democrat-or-kamala-worst-you-should-have-your-head-examined-trump-tells-vote?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Anybody Who Votes For A Democrat Or Kamala, Worst…You Should Have Your Head Examined:&#8217; Trump Tells Voters</a>
Earlier this year, bitcoin ETFs were launched, bringing the asset class closer to widespread adoption. Options give holders the right to buy or sell an asset at a predetermined price by a set date, adding flexibility to investment strategies.
Exchanges began applying for spot bitcoin ETF options as soon as it became evident that the SEC would approve the underlying ETFs in January. The SEC oversees the technical rule changes required for exchanges to list options and confirmed that existing surveillance procedures will apply to IBIT options.
Why It Matters: The approval of Bitcoin ETF options comes at a time when the cryptocurrency market is showing signs of strength. Analysts have <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40963556/experts-predict-bitcoin-surge-to-65-000-as-crypto-market-remains-steady">projected Bitcoin to reach $65,000</a> in the near term, citing increased long positions and bullish options activity. This positive market sentiment is further bolstered by the SEC&#8217;s recent approval, which is likely to attract more institutional investors to the crypto space.
Moreover, the outcome of the 2024 election could have a significant impact on Bitcoin&#8217;s price, according to a <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40778409/donald-trump-winning-the-election-could-propel-bitcoin-to-90k-but-a-kamala-harris-win-coul">Bernstein report</a>. A Trump victory could potentially propel Bitcoin to new heights, reaching $80,000 to $90,000 by the end of Q4, while a Harris win could see Bitcoin retreating to the $30,000 to $40,000 range. The approval of Bitcoin ETF options, therefore, adds another layer of intrigue to the potential impact of the election on the cryptocurrency market.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/09/40917216/elon-musk-says-warren-buffett-is-positioning-for-kamala-harris-win-with-his-277b-cash-pile-as-pr?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says Warren Buffett Is Positioning For Kamala Harris Win With His $277B Cash Pile</a>
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Image: Shutterstock

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