Block (NYSE:XYZ) Price Target Cut to $57.00 by Analysts at Barclays

Block (NYSE:XYZ - Free Report) had its price target reduced by Barclays from $70.00 to $57.00 in a research note issued to investors on Monday morning, MarketBeat reports. Barclays currently has an overweight rating on the technology company's stock.

A number of other equities research analysts have also commented on XYZ. KeyCorp dropped their price target on Block from $65.00 to $60.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Seaport Res Ptn lowered shares of Block from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 2nd. Benchmark downgraded shares of Block from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Bank of America dropped their price objective on shares of Block from $94.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, Stephens reaffirmed an "overweight" rating and issued a $75.00 target price on shares of Block in a research note on Friday, May 2nd. Ten equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $75.54.

Block Price Performance

Shares of NYSE XYZ traded up $0.23 during mid-day trading on Monday, hitting $50.34. The company's stock had a trading volume of 12,270,935 shares, compared to its average volume of 9,361,033. Block has a one year low of $44.27 and a one year high of $99.26. The company has a fifty day simple moving average of $55.55. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $31.18 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 0.72 and a beta of 2.83.

Block (NYSE:XYZ - Get Free Report) last released its earnings results on Thursday, February 20th. The technology company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.11). The company had revenue of $6.03 billion during the quarter, compared to analyst estimates of $6.23 billion. Block had a net margin of 11.92% and a return on equity of 5.80%. On average, sell-side analysts predict that Block will post 2.54 EPS for the current year.

Insider Transactions at Block

In other Block news, CAO Ajmere Dale sold 500 shares of Block 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 completion of the transaction, the chief accounting officer now directly owns 81,999 shares of the company's stock, valued at $4,467,305.52. The trade was a 0.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amrita Ahuja sold 6,345 shares of the firm's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $70.32, for a total value of $446,180.40. Following the completion of the transaction, the chief financial officer now owns 235,854 shares in the company, valued at $16,585,253.28. The trade was a 2.62 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,324 shares of company stock valued at $1,297,662. 10.85% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in Block by 183.8% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 9,154 shares of the technology company's stock valued at $778,000 after purchasing an additional 5,929 shares during the last quarter. Guerra Pan Advisors LLC bought a new position in shares of Block in the 4th quarter valued at $211,000. Moody Lynn & Lieberson LLC bought a new position in shares of Block in the 4th quarter valued at $3,775,000. Toth Financial Advisory Corp boosted its holdings in shares of Block by 18,150.0% during the 4th quarter. Toth Financial Advisory Corp now owns 7,300 shares of the technology company's stock valued at $620,000 after acquiring an additional 7,260 shares in the last quarter. Finally, Nepsis Inc. bought a new stake in Block during the 4th quarter worth $9,769,000. Institutional investors own 70.44% 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.