From Nasdaq:

BlackRock Inc (BLK) is the world’s largest asset manager with $10 trillion in total assets under management in 2023, up from $8.6 trillion in 2022. The company offers various investment products like mutual funds, ETFs, and alternative investments. The stock has gained 18.5% in the last six months due to demand for bitcoin ETFs.

Multiple spot bitcoin ETFs were launched, attracting billions in funds. BlackRock’s IBIT ETF holds 195,985 BTC worth over $14 billion. The fund is the second-largest Bitcoin ETF in the U.S. after Grayscale Bitcoin Trust. BTC prices have surged over 63% since the start of 2024 and more than tripled in the last year.

BlackRock’s IBIT fund has an expense ratio of 0.25% and may earn $2.5 million for every $1 billion invested. Approval for spot Ethereum ETFs by the SEC is anticipated by May 23, potentially unlocking a high-margin revenue stream. Analysts forecast BlackRock’s sales to rise to $22.45 billion in 2025 with earnings per share projected to expand.

BlackRock stock is priced reasonably at 18.3 times forward earnings with a strong dividend history. Analysts mostly recommend a “strong buy” for BLK stock, with an average target price of $901.87. The stock is expected to reach $1,200 by 2028 if priced at 18x forward earnings.



Read more at Nasdaq: As SEC Considers Spot Ethereum ETFs, Can BlackRock Stock Top $1,000?