Block, Inc. (NYSE:XYZ) Receives $95.62 Consensus Price Target from Brokerages

Shares of Block, Inc. (NYSE:XYZ) have earned a consensus recommendation of “Moderate Buy” from the thirty ratings firms that are currently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and twenty-six have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $94.41.

A number of equities analysts have commented on XYZ shares. The Goldman Sachs Group decreased their price target on Block from $109.00 to $94.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Needham & Company LLC reissued a “buy” rating and set a $90.00 target price on shares of Block in a research note on Friday, February 21st. Oppenheimer raised Block from a “market perform” rating to an “outperform” rating and set a $115.00 target price on the stock in a research note on Thursday, December 19th. BMO Capital Markets raised Block from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $100.00 to $89.00 in a research note on Monday, February 24th. Finally, Wells Fargo & Company boosted their target price on Block from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th.

Insiders Place Their Bets

In other news, CAO Ajmere Dale sold 1,467 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $70.32, for a total transaction of $103,159.44. Following the transaction, the chief accounting officer now directly owns 82,499 shares of the company’s stock, valued at $5,801,329.68. This represents a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brian Grassadonia sold 3,253 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 548,597 shares in the company, valued at approximately $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. Over the last three months, insiders have sold 21,967 shares of company stock valued at $1,649,113. 10.49% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of XYZ. SouthState Corp lifted its holdings in Block by 85.3% in the third quarter. SouthState Corp now owns 391 shares of the technology company’s stock valued at $26,000 after acquiring an additional 180 shares during the period. True Wealth Design LLC lifted its holdings in 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 lifted its holdings in Block by 67.7% in the fourth quarter. Versant Capital Management Inc now owns 394 shares of the technology company’s stock valued at $33,000 after acquiring an additional 159 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in Block by 48.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 418 shares of the technology company’s stock valued at $36,000 after acquiring an additional 136 shares during the period. Finally, Darwin Wealth Management LLC bought a new position in Block in the third quarter valued at about $74,000. Institutional investors own 70.44% of the company’s stock.

Block Price Performance

Shares of Block stock opened at $61.26 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 moving average of $72.43. The stock has a market cap of $37.95 billion, a PE ratio of 13.46, a P/E/G ratio of 0.72 and a beta of 2.78. Block has a one year low of $53.54 and a one year high of $99.26.

Block (NYSE:XYZ) last announced its quarterly earnings results 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 company had revenue of $6.03 billion during the quarter, compared to analysts’ expectations of $6.23 billion. Block had a return on equity of 5.80% and a net margin of 11.92%. Sell-side analysts expect that Block will post 2.54 earnings per share for the current fiscal 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.