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

Shares of Block, Inc. (NYSE:XYZ - Get Free Report) have been given an average recommendation of "Moderate Buy" by the thirty-three brokerages that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $76.22.

XYZ has been the subject of a number of research analyst reports. Citigroup reduced their target price on Block from $108.00 to $90.00 and set a "buy" rating for the company in a report on Friday, March 14th. Raymond James Financial set a $79.00 target price on Block and gave the company an "outperform" rating in a report on Monday, June 2nd. BNP Paribas raised Block from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 27th. The Goldman Sachs Group reduced their target price on Block from $65.00 to $57.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, Evercore ISI raised Block from an "in-line" rating to an "outperform" rating and increased their price target for the company from $58.00 to $75.00 in a report on Tuesday, June 3rd.

Block Price Performance

Shares of Block stock opened at $63.66 on Friday. The firm's 50 day moving average price is $58.20. Block has a 12 month low of $44.27 and a 12 month high of $99.26. The firm has a market capitalization of $39.15 billion, a PE ratio of 15.49, a P/E/G ratio of 2.31 and a beta of 2.75. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.24.

Insider Activity

In related news, insider Owen Britton Jennings sold 11,556 shares of Block stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $56.42, for a total value of $651,989.52. Following the completion of the transaction, the insider now directly owns 284,739 shares in the company, valued at approximately $16,064,974.38. This trade represents a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Ajmere Dale sold 500 shares of Block stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $54.48, for a total value of $27,240.00. Following the completion of the transaction, the chief accounting officer now owns 81,999 shares of the company's stock, valued at approximately $4,467,305.52. This trade represents a 0.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,911 shares of company stock valued at $3,866,989. 10.85% of the stock is currently 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.

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