Block, Inc. (NYSE:XYZ) Receives $95.62 Average Target Price from Analysts

Block, Inc. (NYSE:XYZ) has received an average rating of “Moderate Buy” from the thirty analysts that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and twenty-five have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $95.00.

Several research analysts have commented on the stock. BMO Capital Markets upgraded shares of Block from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $100.00 to $89.00 in a research report on Monday, February 24th. The Goldman Sachs Group decreased their price objective on Block from $109.00 to $94.00 and set a “buy” rating for the company in a report on Friday, February 21st. Piper Sandler cut their target price on Block from $101.00 to $85.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. StockNews.com initiated coverage on Block in a research note on Saturday, February 15th. They issued a “hold” rating for the company. Finally, Morgan Stanley upgraded shares of Block from an “underweight” rating to an “equal weight” rating and set a $65.00 price objective on the stock in a research note on Tuesday, February 25th.

Insiders Place Their Bets

In other news, CAO Ajmere Dale sold 1,467 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $70.32, for a total transaction of $103,159.44. Following the completion of the sale, the chief accounting officer now owns 82,499 shares in the company, valued at approximately $5,801,329.68. This represents a 1.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Brian Grassadonia sold 3,253 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $68.01, for a total value of $221,236.53. Following the completion of the transaction, the insider now directly owns 548,597 shares in the company, valued at $37,310,081.97. The trade was a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 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 Investors Weigh In On Block

A number of hedge funds have recently bought and sold shares of XYZ. SouthState Corp boosted 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 purchasing an additional 180 shares during the period. True Wealth Design LLC boosted its position in shares of Block by 64.7% in the third quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock valued at $33,000 after acquiring an additional 194 shares during the period. Versant Capital Management Inc grew its stake in shares of Block by 67.7% in the fourth quarter. Versant Capital Management Inc now owns 394 shares of the technology company’s stock worth $33,000 after acquiring an additional 159 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in Block by 48.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 418 shares of the technology company’s stock worth $36,000 after acquiring an additional 136 shares during the period. Finally, Darwin Wealth Management LLC acquired a new position in Block during the 3rd quarter valued at $74,000. 70.44% of the stock is currently owned by institutional investors.

Block Stock Up 5.8 %

Shares of NYSE XYZ opened at $57.18 on Friday. 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 stock has a 50-day simple moving average of $73.59. Block has a 52-week low of $53.54 and a 52-week high of $99.26. The company has a market capitalization of $35.42 billion, a PE ratio of 12.57, a P/E/G ratio of 0.72 and a beta of 2.78.

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 analysts’ consensus estimates of $0.37 by ($0.11). The company had revenue of $6.03 billion for the quarter, compared to analyst estimates of $6.23 billion. Block had a net margin of 11.92% and a return on equity of 5.80%. As a group, equities research analysts expect that Block will post 2.54 earnings per share for the current year.

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.