Block, Inc. (NYSE:XYZ) Given Consensus Recommendation of "Moderate Buy" by Analysts

Block, Inc. (NYSE:XYZ - Get Free Report) has been given a consensus rating of "Moderate Buy" by the thirty-two research firms that are covering the company, Marketbeat.com reports. Nine analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $75.23.

A number of analysts have recently issued reports on XYZ shares. Morgan Stanley upgraded shares of Block from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $65.00 to $67.00 in a research note on Thursday, April 3rd. Royal Bank of Canada cut their target price on shares of Block from $86.00 to $63.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Raymond James cut their target price on shares of Block from $103.00 to $74.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Stephens restated an "overweight" rating and set a $75.00 target price on shares of Block in a research note on Friday, May 2nd. Finally, BMO Capital Markets restated a "market perform" rating and set a $58.00 target price (down previously from $80.00) on shares of Block in a research note on Friday, May 2nd.

Insider Activity at Block

In other news, CFO Amrita Ahuja sold 1,976 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $56.19, for a total value of $111,031.44. Following the transaction, the chief financial officer now owns 233,878 shares in the company, valued at approximately $13,141,604.82. The trade was a 0.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Ajmere Dale sold 500 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $54.48, for a total transaction of $27,240.00. Following the completion of the transaction, the chief accounting officer now owns 81,999 shares in the company, valued at $4,467,305.52. This trade represents a 0.61% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,126 shares of company stock valued at $3,377,568. 10.85% of the stock is owned by insiders.

Institutional Trading of Block

A hedge fund recently raised its stake in Block stock. Mutual Advisors LLC lifted its position in Block, Inc. (NYSE:XYZ - Free Report) by 11.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,040 shares of the technology company's stock after acquiring an additional 498 shares during the quarter. Mutual Advisors LLC's holdings in Block were worth $435,000 at the end of the most recent reporting period. 70.44% of the stock is owned by institutional investors.

Block Price Performance

XYZ stock traded down $0.36 during trading hours on Wednesday, reaching $61.80. The stock had a trading volume of 11,485,000 shares, compared to its average volume of 9,470,194. The company has a market capitalization of $38.01 billion, a PE ratio of 13.58, a PEG ratio of 0.72 and a beta of 2.83. 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 company's 50-day moving average is $55.30. Block has a fifty-two week low of $44.27 and a fifty-two week high of $99.26.

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.