Key Stats for BlackRock Stock
- Current Price: $1,048.42
- Target Price (Mid): ~$1,917
- Street Target (Mean): ~$1,255
- Potential Total Return: ~83%
- Annualized IRR: ~14% / year
- Q1 2026 Earnings Reaction: -0.57% (April 14, 2026)
- Max Drawdown: -23.26% (March 12, 2026)
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What Happened?
BlackRock (BLK) stock sits about 14% below its 52-week high of $1,219.94, and the gap between what the bears feared and what the business delivered has rarely looked this wide.
The dominant narrative coming into earnings was BlackRock’s HLEND redemption gate: in early March, the firm capped withdrawals from its HPS Corporate Lending Fund (a private credit vehicle that lends to mid-sized companies and pays monthly income to wealthy retail investors) after redemption requests exceeded the 5% liquidity threshold.
The event triggered a sharp single-day decline and a subsequent legal investigation by Pomerantz LLP. Investors visiting BlackRock’s investor relations page on April 14 wanted one answer: was the private credit franchise cracking?
It was not.
According to BlackRock’s Q1 2026 earnings press release, the company reported revenue of $6.70 billion for the quarter, beating the TIKR consensus estimate of $6.44 billion. Adjusted EPS came in at $12.53, beating the TIKR consensus of $11.50 by about 9%. The firm pulled in $130 billion in net inflows, led by a record Q1 for iShares ETFs, while total AUM reached $13.9 trillion.
The stock gained roughly 3% in early trading on April 15 before broader market pressure pulled it back, closing the day down 0.57% per TIKR.
Chairman and CEO Laurence D. Fink described it as “one of the strongest starts to a year in our history,” adding that results “reflect a business with accelerating momentum, deep client engagement, and a platform built to compound across market environments.”
CFO Martin S. Small addressed HLEND directly on the call, noting the fund had logged a 10.4% annualized total return since inception and was one of the only non-traded BDCs with positive performance in 2026, reframing the redemption gate as a liquidity management event rather than a sign of credit stress.
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Is BlackRock Undervalued Today?
At $1,048.42, BLK trades at 19.3x forward earnings per TIKR, a notable step down from the 22x to 24x range it commanded at its mid-2025 peak. But the business is not the same business it was then.
The clearest evidence is what’s happening to the revenue mix. According to TIKR segment data, BlackRock’s alternatives revenue (fees from private credit, infrastructure, and real assets) grew from $1.76 billion in 2024 to $3.02 billion in 2025.
That near-doubling reflects HPS and Global Infrastructure Partners (GIP) moving from acquisition costs to genuine contributors. A growing share of BlackRock’s earnings now comes from locked-up, multi-year fee arrangements rather than daily-redeemable ETF flows, yet the stock is still priced closer to a passive ETF manager than the hybrid platform it has become.
On a peer basis, using NTM P/E from TIKR‘s Competitors page, BLK at 19.3x sits between Blackstone (BX) at 21.1x and KKR at 16.8x. As alternatives continue to grow as a share of BlackRock’s revenue, the gap between BLK and pure-play alternatives managers like Blackstone narrows, yet the valuation discount persists.
Wall Street’s view is constructive. Of 16 analysts covering BLK per TIKR’s Street Targets data, 10 rate it a Buy, 4 an Outperform, and 3 a Hold, with zero Sell or Underperform ratings and a mean price target of $1,255, around 20% above today’s price.
The risk that earns the remaining caution is a second private credit stress event. BlackRock’s as-adjusted operating margin reached 44.5% in Q1 per the Q1 2026 earnings release, just below the firm’s stated 45%-or-greater target.
If private markets deployment slows materially, the fee ramp that supports margin expansion gets delayed, and a near-20x multiple on slower earnings is harder to justify.
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TIKR Advanced Model Analysis
- Current Price: $1,048.42
- Target Price (Mid): ~$1,917
- Potential Total Return: ~83%
- Annualized IRR: ~14% / year
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The TIKR mid-case targets around 10% annual revenue growth through 12/31/30, supported by two drivers: continued iShares ETF base fee growth, which posted a record Q1 and benefits from structural global demand for passive and active ETF strategies, and private markets fee ramp as HPS and GIP scale into full deployment. Net income margins hold near 32% in the mid-case, consistent with BlackRock’s five-year historical average, as operating leverage kicks in on a largely fixed cost base. The primary downside is a private credit disruption that slows capital deployment and compresses performance fees. That scenario does not reach $1,917. The mid-case requires consistent execution, not exceptional execution.
Conclusion
Watch private markets net inflows at Q2 2026 earnings, expected in mid-July. If HLEND subscriptions remain positive and private markets AUM holds steady, the March redemption bear case closes. At 19.3x forward earnings, BLK is a cheaper version of a better business than it was at its 52-week high.
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Should You Invest in BlackRock?
The only way to really know is to look at the numbers yourself. TIKR gives you free access to the same institutional-quality financial data that professional analysts use to answer exactly that question.
Pull up BlackRock, and you’ll see years of historical financials, what Wall Street analysts expect for revenue and earnings in the quarters ahead, how valuation multiples have moved over time, and whether price targets are trending up or down.
You can build a free watchlist to track BlackRock alongside every other stock on your radar. No credit card required. Just the data you need to decide for yourself.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
