Block (NYSE:XYZ) Coverage Initiated by Analysts at Compass Point

Compass Point initiated coverage on shares of Block (NYSE:XYZ) in a research report released on Wednesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $80.00 target price on the technology company’s stock.

Several other equities research analysts have also recently commented on the company. Robert W. Baird lowered their target price on Block from $105.00 to $80.00 and set an “outperform” rating for the company in a research note on Tuesday, April 8th. Needham & Company LLC decreased their price target on Block from $90.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Barclays lifted their price objective on Block from $57.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, June 9th. Benchmark downgraded shares of Block from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. Finally, Argus set a $59.00 price target on shares of Block in a research report on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Block currently has an average rating of “Moderate Buy” and an average price target of $74.19.

Block Price Performance

XYZ opened at $69.19 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.27 and a quick ratio of 2.27. The company has a market capitalization of $42.55 billion, a PE ratio of 16.83, a P/E/G ratio of 2.06 and a beta of 2.74. The firm’s 50 day moving average is $60.15. Block has a one year low of $44.27 and a one year high of $99.26.

Insider Transactions at Block

In other Block news, insider Dhananjay Prasanna sold 800 shares of the business’s stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $70.00, for a total value of $56,000.00. Following the sale, the insider owned 307,151 shares in the company, valued at approximately $21,500,570. The trade was a 0.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Amrita Ahuja sold 10,002 shares of the company’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $56.39, for a total value of $564,012.78. Following the transaction, the chief financial officer directly owned 326,106 shares of the company’s stock, valued at approximately $18,389,117.34. This trade represents a 2.98% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,172 shares of company stock worth $4,064,797. Company insiders own 10.85% 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.