Block (NYSE:XYZ) Earns Sell Rating from Analysts at Truist Financial

Truist Financial initiated coverage on shares of Block (NYSE:XYZ - Free Report) in a research note published on Monday morning, Marketbeat reports. The brokerage issued a sell rating and a $60.00 price objective on the technology company's stock.

A number of other research analysts also recently issued reports on XYZ. Barclays decreased their price target on shares of Block from $70.00 to $57.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Piper Sandler cut Block from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $85.00 to $51.00 in a research report on Friday, May 2nd. Macquarie lowered Block from an "outperform" rating to a "neutral" rating and set a $50.00 target price on the stock. in a research report on Monday, May 5th. Seaport Res Ptn cut Block from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 2nd. Finally, Robert W. Baird dropped their price target on shares of Block from $105.00 to $80.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $75.63.

Block Price Performance

NYSE XYZ traded up $0.06 during trading hours on Monday, hitting $63.92. 3,849,844 shares of the company's stock traded hands, compared to its average volume of 9,412,106. The company has a market cap of $39.31 billion, a P/E ratio of 14.05, a PEG ratio of 0.72 and a beta of 2.83. The company's 50-day moving average is $55.65. Block has a 52-week low of $44.27 and a 52-week high of $99.26. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26.

Insider Buying and Selling at Block

In other Block news, insider Chrysty Esperanza sold 7,500 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $55.00, for a total value of $412,500.00. Following the completion of the sale, the insider now owns 133,940 shares in the company, valued at approximately $7,366,700. This trade represents a 5.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Ajmere Dale sold 500 shares of Block stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 81,999 shares in the company, valued at $4,467,305.52. The trade was a 0.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 61,926 shares of company stock worth $3,547,136 over the last 90 days. 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.