Block (NYSE:XYZ) Stock Rating Upgraded by Piper Sandler

Piper Sandler upgraded shares of Block (NYSE:XYZ - Free Report) to an underweight rating in a research note released on Tuesday morning, MarketBeat.com reports. They currently have $50.00 target price on the technology company's stock.

A number of other equities analysts have also recently issued reports on the company. Wall Street Zen cut Block from a "hold" rating to a "sell" rating in a report on Sunday, June 22nd. Argus set a $59.00 price objective on Block in a report on Monday, May 5th. Seaport Res Ptn downgraded shares of Block from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 2nd. Royal Bank Of Canada cut their price target on shares of Block from $86.00 to $63.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Finally, Macquarie cut shares of Block from an "outperform" rating to a "neutral" rating and set a $50.00 price objective on the stock. in a research note on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Block presently has a consensus rating of "Moderate Buy" and a consensus price target of $75.42.

Block Price Performance

Shares of Block stock traded up $1.48 during trading on Tuesday, hitting $66.59. 5,947,091 shares of the company's stock traded hands, compared to its average volume of 9,102,989. The firm has a market cap of $40.95 billion, a P/E ratio of 16.20, a PEG ratio of 2.51 and a beta of 2.75. The business's fifty day simple moving average is $59.03. Block has a twelve month low of $44.27 and a twelve month high of $99.26. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.24.

Insider Buying and Selling

In related news, CAO Ajmere Dale sold 500 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $54.48, for a total value of $27,240.00. Following the transaction, the chief accounting officer now owns 81,999 shares in the company, valued at approximately $4,467,305.52. This trade represents a 0.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dhananjay Prasanna sold 2,800 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $63.51, for a total transaction of $177,828.00. Following the sale, the insider now directly owns 313,151 shares of the company's stock, valued at $19,888,220.01. This represents a 0.89% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,911 shares of company stock worth $3,866,989. Corporate insiders own 10.85% of the company's stock.

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.