Block (NYSE:XYZ) Given New $70.00 Price Target at Barclays

Block (NYSE:XYZ) had its price objective decreased by Barclays from $97.00 to $70.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Barclays currently has an overweight rating on the technology company’s stock.

Several other brokerages also recently weighed in on XYZ. Wells Fargo & Company boosted their target price on Block from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Royal Bank of Canada restated an “outperform” rating and issued a $110.00 target price on shares of Block in a research note on Thursday, February 20th. Canaccord Genuity Group decreased their target price on Block from $120.00 to $100.00 and set a “buy” rating for the company in a report on Friday, February 21st. Oppenheimer raised shares of Block from a “market perform” rating to an “outperform” rating and set a $115.00 price objective on the stock in a report on Thursday, December 19th. Finally, Citigroup cut their price target on Block from $108.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Four investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $90.14.

Block Stock Up 0.1 %

Block stock opened at $53.83 on Tuesday. Block has a twelve month low of $46.42 and a twelve month high of $99.26. The business’s fifty day moving average is $61.91. The stock has a market capitalization of $33.35 billion, a price-to-earnings ratio of 11.83, a P/E/G ratio of 0.72 and a beta of 2.77. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07.

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

Insider Buying and Selling at Block

In related news, CAO Ajmere Dale sold 500 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $54.48, for a total transaction of $27,240.00. Following the completion of the sale, the chief accounting officer now owns 81,999 shares of the company’s stock, valued at approximately $4,467,305.52. This represents a 0.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amrita Ahuja sold 1,976 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $56.19, for a total value of $111,031.44. Following the transaction, the chief financial officer now owns 233,878 shares in the company, valued at approximately $13,141,604.82. This represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,324 shares of company stock valued at $1,297,662 over the last quarter. 10.49% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Block

Hedge funds have recently modified their holdings of the company. Orion Portfolio Solutions LLC boosted its holdings in Block by 16.5% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 7,424 shares of the technology company’s stock valued at $498,000 after purchasing an additional 1,054 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in Block by 7.5% in the third quarter. Sanctuary Advisors LLC now owns 52,412 shares of the technology company’s stock valued at $3,518,000 after acquiring an additional 3,639 shares during the last quarter. Wilmington Savings Fund Society FSB increased its stake in Block by 38.1% during the third quarter. Wilmington Savings Fund Society FSB now owns 9,893 shares of the technology company’s stock worth $664,000 after acquiring an additional 2,728 shares during the last quarter. Synovus Financial Corp lifted its stake in shares of Block by 18.6% in the 3rd quarter. Synovus Financial Corp now owns 10,174 shares of the technology company’s stock valued at $683,000 after purchasing an additional 1,593 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Block by 67.7% during the 4th quarter. Versant Capital Management Inc now owns 394 shares of the technology company’s stock worth $33,000 after purchasing an additional 159 shares during the period. Hedge funds and other institutional investors 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.