Block (NYSE:XYZ) Stock Price Expected to Rise, Evercore ISI Analyst Says

Block (NYSE:XYZ) had its price objective lifted by research analysts at Evercore ISI from $75.00 to $85.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Evercore ISI’s price target points to a potential upside of 16.66% from the stock’s current price.

Several other equities analysts also recently issued reports on the stock. Piper Sandler raised shares of Block to an “underweight” rating and set a $50.00 price target for the company in a research note on Tuesday, June 24th. Benchmark downgraded Block from a “buy” rating to a “hold” rating in a report on Friday, May 2nd. Truist Financial set a $61.00 target price on Block in a report on Tuesday, June 3rd. Royal Bank Of Canada reduced their price target on Block from $86.00 to $63.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Finally, Argus set a $59.00 price objective on Block in a research report on Monday, May 5th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $74.63.

Block Trading Up 3.0%

XYZ stock opened at $72.86 on Thursday. The business has a 50-day moving average of $63.88. Block has a 12 month low of $44.27 and a 12 month high of $99.26. 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 $44.81 billion, a PE ratio of 17.73, a P/E/G ratio of 1.75 and a beta of 2.74.

Insider Activity at Block

In other news, insider Dhananjay Prasanna sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $70.00, for a total transaction of $56,000.00. Following the completion of the sale, the insider owned 303,551 shares in the company, valued at $21,248,570. This trade represents a 0.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Ajmere Dale sold 366 shares of Block stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $69.26, for a total transaction of $25,349.16. Following the completion of the sale, the chief accounting officer directly owned 108,736 shares in the company, valued at $7,531,055.36. This trade represents a 0.34% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,287 shares of company stock worth $4,624,074. 10.85% of the stock is owned by company insiders.

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.