Block, Inc. (NYSE:XYZ) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Block, Inc. (NYSE:XYZ) have been given an average recommendation of “Moderate Buy” by the thirty-seven analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-three have issued a buy rating and three have issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $82.9394.

A number of research firms recently issued reports on XYZ. Wells Fargo & Company raised shares of Block to a “strong-buy” rating in a research report on Wednesday, October 22nd. Needham & Company LLC reissued a “buy” rating and issued a $80.00 target price on shares of Block in a research note on Monday, November 24th. Compass Point upgraded shares of Block from a “strong sell” rating to a “hold” rating in a report on Friday, November 21st. KeyCorp reiterated an “overweight” rating and issued a $94.00 target price on shares of Block in a research note on Wednesday, October 22nd. Finally, BTIG Research reissued a “buy” rating and set a $90.00 price target on shares of Block in a research report on Thursday, November 20th.

Block Trading Up 2.2%

Shares of XYZ opened at $71.52 on Thursday. Block has a twelve month low of $44.27 and a twelve month high of $94.25. The firm has a market capitalization of $43.46 billion, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 1.29 and a beta of 2.66. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.25. The stock’s fifty day simple moving average is $65.25 and its 200 day simple moving average is $71.45.

Block (NYSE:XYZ) last posted its quarterly earnings results on Thursday, November 6th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.29. The firm had revenue of $6.11 billion during the quarter. Block had a return on equity of 5.54% and a net margin of 12.99%.Block’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the firm posted $0.53 EPS. On average, equities research analysts forecast that Block will post 2.54 earnings per share for the current year.

Insiders Place Their Bets

In other Block news, CFO Amrita Ahuja sold 9,959 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $61.40, for a total value of $611,482.60. Following the completion of the transaction, the chief financial officer directly owned 272,965 shares of the company’s stock, valued at $16,760,051. This represents a 3.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Brian Grassadonia sold 8,085 shares of the firm’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $61.96, for a total value of $500,946.60. Following the sale, the insider owned 521,352 shares of the company’s stock, valued at $32,302,969.92. This represents a 1.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 54,796 shares of company stock valued at $3,395,943. Corporate insiders own 10.85% of the company’s stock.

Institutional Investors Weigh In On Block

A number of institutional investors have recently modified their holdings of XYZ. Cromwell Holdings LLC bought a new stake in Block during the third quarter valued at $27,000. City Holding Co. bought a new stake in shares of Block during the 3rd quarter valued at about $27,000. Nemes Rush Group LLC bought a new stake in shares of Block during the 2nd quarter valued at about $26,000. Cary Street Partners Investment Advisory LLC acquired a new stake in Block during the third quarter worth about $28,000. Finally, Traub Capital Management LLC bought a new position in Block in the second quarter worth about $26,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

About Block

Block (NYSE:XYZ) is a financial technology company that builds products and services to facilitate electronic payments, commerce, and consumer finance. Its principal business lines include a seller-focused ecosystem that provides point-of-sale hardware and software, payment processing, invoicing, payroll and lending services, and a consumer-facing platform that offers peer-to-peer payments, banking-like features, and investing. Block’s portfolio also encompasses music streaming and buy-now-pay-later capabilities through businesses acquired to broaden its reach beyond core payments.

The company was founded as Square in 2009 by Jack Dorsey and Jim McKelvey and later rebranded to Block to reflect a diversified set of businesses across payments, consumer finance, and emerging technologies.