Barclays Has Lowered Expectations for Block (NYSE:XYZ) Stock Price

Block (NYSE:XYZ) had its target price dropped by Barclays from $112.00 to $97.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Barclays‘s price objective suggests a potential upside of 54.14% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price objective on shares of Block in a research report on Friday, February 21st. Morgan Stanley increased their price objective on shares of Block from $60.00 to $65.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 18th. Citigroup increased their price objective on shares of Block from $90.00 to $108.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. BMO Capital Markets raised shares of Block from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from $100.00 to $89.00 in a research report on Monday. Finally, The Goldman Sachs Group dropped their price objective on shares of Block from $109.00 to $94.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Six analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $96.31.

Block Stock Down 4.5 %

Shares of XYZ stock opened at $62.93 on Monday. Block has a one year low of $55.00 and a one year high of $99.26. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26. The company has a market cap of $39.00 billion, a P/E ratio of 13.83, a P/E/G ratio of 0.72 and a beta of 2.53.

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

Insider Transactions at Block

In related news, insider Owen Britton Jennings sold 2,836 shares of the stock in a transaction dated Thursday, January 2nd. The shares were 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. This trade represents a 1.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian Grassadonia sold 3,253 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $68.01, for a total transaction of $221,236.53. Following the completion of the sale, the insider now directly owns 548,597 shares in the company, valued at approximately $37,310,081.97. This trade represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,832 shares of company stock worth $1,921,288. 10.49% of the stock is currently owned by insiders.

Institutional Trading of Block

Large investors have recently modified their holdings of the company. SouthState Corp increased its stake in Block by 85.3% during the 3rd quarter. SouthState Corp now owns 391 shares of the technology company’s stock valued at $26,000 after buying an additional 180 shares during the period. Versant Capital Management Inc increased its stake in Block by 67.7% during the 4th quarter. Versant Capital Management Inc now owns 394 shares of the technology company’s stock valued at $33,000 after buying an additional 159 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in Block by 48.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 418 shares of the technology company’s stock valued at $36,000 after buying an additional 136 shares during the period. True Wealth Design LLC increased its stake in Block by 64.7% during the 3rd quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock valued at $33,000 after buying an additional 194 shares during the period. Finally, Rosenberg Matthew Hamilton increased its stake in Block by 18.3% during the 4th quarter. Rosenberg Matthew Hamilton now owns 982 shares of the technology company’s stock valued at $83,000 after buying an additional 152 shares during the period. Institutional investors and hedge funds own 70.44% of the company’s stock.

About Block

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.