Block (NYSE:XYZ) Price Target Raised to $65.00

Block (NYSE:XYZ) had its price target raised by Truist Financial from $61.00 to $65.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a sell rating on the technology company’s stock.

A number of other research firms also recently commented on XYZ. Bank of America dropped their price objective on Block from $94.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. BNP Paribas Exane upgraded Block from a “neutral” rating to an “outperform” rating and set a $72.00 price objective on the stock in a report on Tuesday, May 27th. Barclays increased their price objective on Block from $57.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, June 9th. Keefe, Bruyette & Woods increased their price objective on Block from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, July 9th. Finally, Royal Bank Of Canada decreased their target price on Block from $86.00 to $63.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $74.63.

Block Price Performance

Shares of XYZ opened at $72.86 on Thursday. The firm has a market cap of $44.81 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 1.80 and a beta of 2.74. Block has a fifty-two week low of $44.27 and a fifty-two week high of $99.26. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.24. The firm has a 50-day simple moving average of $63.88.

Insider Buying and Selling

In related news, CAO Ajmere Dale sold 366 shares of the firm’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $69.26, for a total value of $25,349.16. Following the transaction, the chief accounting officer owned 108,736 shares in the company, valued at $7,531,055.36. This trade represents a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dhananjay Prasanna sold 800 shares of the firm’s stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $70.00, for a total value of $56,000.00. Following the completion of the transaction, the insider owned 303,551 shares in the company, valued at approximately $21,248,570. This represents a 0.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,287 shares of company stock valued at $4,624,074 in the last 90 days. 10.85% of the stock is owned by corporate insiders.

Block Company Profile

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.