Analysts Set Block, Inc. (NYSE:XYZ) Target Price at $95.62

Shares of Block, Inc. (NYSE:XYZ) have received a consensus recommendation of “Moderate Buy” from the thirty brokerages that are currently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and twenty-six have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $94.41.

A number of brokerages have issued reports on XYZ. KeyCorp reduced their price target on Block from $115.00 to $85.00 and set an “overweight” rating for the company in a research report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Block in a report on Friday, February 21st. BMO Capital Markets raised shares of Block from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $100.00 to $89.00 in a research note on Monday, February 24th. BNP Paribas lowered shares of Block from an “outperform” rating to a “neutral” rating and set a $88.00 price target for the company. in a research note on Wednesday, November 20th. Finally, Barclays decreased their price objective on shares of Block from $112.00 to $97.00 and set an “overweight” rating for the company in a report on Monday, February 24th.

Block Stock Up 1.9 %

Shares of NYSE:XYZ opened at $59.75 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07. The firm has a 50-day moving average price of $72.94. The company has a market cap of $37.01 billion, a P/E ratio of 13.13, a PEG ratio of 0.72 and a beta of 2.78. Block has a fifty-two week low of $53.54 and a fifty-two week high of $99.26.

Block (NYSE:XYZ) last released its quarterly earnings results on Thursday, February 20th. The technology company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). Block had a net margin of 11.92% and a return on equity of 5.80%. The business had revenue of $6.03 billion for the quarter, compared to the consensus estimate of $6.23 billion. As a group, equities analysts anticipate that Block will post 2.54 EPS for the current year.

Insider Transactions at Block

In related news, CAO Ajmere Dale sold 1,467 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $70.32, for a total value of $103,159.44. Following the completion of the sale, the chief accounting officer now directly owns 82,499 shares of the company’s stock, valued at approximately $5,801,329.68. This represents a 1.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Owen Britton Jennings sold 2,836 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $89.38, for a total value of $253,481.68. Following the sale, the insider now owns 195,449 shares of the company’s stock, valued at $17,469,231.62. The trade was a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,967 shares of company stock valued at $1,649,113 over the last ninety days. Corporate insiders own 10.49% of the company’s stock.

Institutional Trading of Block

A number of hedge funds have recently made changes to their positions in XYZ. Geode Capital Management LLC grew its position in Block by 1.6% during the third quarter. Geode Capital Management LLC now owns 8,690,075 shares of the technology company’s stock valued at $581,923,000 after purchasing an additional 133,002 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Block by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,202,388 shares of the technology company’s stock valued at $147,846,000 after buying an additional 45,472 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Block by 770.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,738,708 shares of the technology company’s stock valued at $116,719,000 after acquiring an additional 1,538,849 shares in the last quarter. Southpoint Capital Advisors LP acquired a new position in shares of Block in the third quarter worth $114,121,000. Finally, Swiss National Bank increased its stake in shares of Block by 0.5% in the third quarter. Swiss National Bank now owns 1,651,886 shares of the technology company’s stock worth $110,891,000 after acquiring an additional 8,200 shares during the last quarter. 70.44% of the stock is owned by hedge funds and other institutional investors.

Block Company Profile

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.