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

Block, Inc. (NYSE:XYZ) has earned an average rating of “Moderate Buy” from the thirty brokerages that are covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $95.00.

XYZ has been the topic of several analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Block in a research note on Friday, February 21st. Raymond James lowered their price target on Block from $115.00 to $103.00 and set an “outperform” rating on the stock in a research report on Friday, February 21st. BMO Capital Markets raised Block from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $100.00 to $89.00 in a report on Monday, February 24th. Piper Sandler reduced their target price on shares of Block from $101.00 to $85.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Finally, The Goldman Sachs Group dropped their target price 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.

Insider Transactions at Block

In other Block news, CFO Amrita Ahuja sold 6,345 shares of Block stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $70.32, for a total value of $446,180.40. Following the transaction, the chief financial officer now owns 235,854 shares of the company’s stock, valued at approximately $16,585,253.28. The trade was a 2.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Ajmere Dale sold 2,044 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $86.72, for a total transaction of $177,255.68. Following the sale, the chief accounting officer now owns 83,966 shares in the company, valued at approximately $7,281,531.52. The trade was a 2.38 % 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 three months. 10.49% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Block

A number of large investors have recently added to or reduced their stakes in the company. Southpoint Capital Advisors LP bought a new position in shares of Block during the third quarter worth about $114,121,000. Massachusetts Financial Services Co. MA boosted its position in 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 worth $116,719,000 after acquiring an additional 1,538,849 shares during the last quarter. Woodson Capital Management LP bought a new position in shares of Block during the 3rd quarter worth approximately $27,255,000. Azora Capital LP raised its holdings in shares of Block by 358.4% in the third quarter. Azora Capital LP now owns 503,402 shares of the technology company’s stock valued at $33,793,000 after purchasing an additional 393,593 shares during the last quarter. Finally, Graypoint LLC bought a new stake in shares of Block in the fourth quarter worth $32,445,000. Institutional investors own 70.44% of the company’s stock.

Block Trading Up 5.8 %

XYZ opened at $57.18 on Friday. The company’s 50 day moving average price is $73.59. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $35.42 billion, a PE ratio of 12.57, a PEG ratio of 0.72 and a beta of 2.78. Block has a 1 year low of $53.54 and a 1 year high of $99.26.

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

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.