Block (NYSE:XYZ) Given New $80.00 Price Target at Keefe, Bruyette & Woods

Block (NYSE:XYZ - Get Free Report) had its price objective lifted by Keefe, Bruyette & Woods from $70.00 to $80.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the technology company's stock. Keefe, Bruyette & Woods' target price points to a potential upside of 16.33% from the company's current price.

Other research analysts have also recently issued research reports about the stock. Needham & Company LLC lowered their price objective on Block from $90.00 to $60.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Bank of America decreased their target price on shares of Block from $94.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Benchmark lowered Block from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Morgan Stanley increased their price target on Block from $65.00 to $73.00 and gave the stock an "overweight" rating in a research note on Tuesday. Finally, Compass Point initiated coverage on shares of Block in a research note on Wednesday, July 2nd. They set a "buy" rating and a $80.00 target price for the company. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $74.69.

Block Trading Up 1.4%

Shares of XYZ traded up $0.93 during midday trading on Wednesday, reaching $68.77. The stock had a trading volume of 3,816,100 shares, compared to its average volume of 8,968,199. The company's 50 day simple moving average is $61.00. The stock has a market cap of $42.29 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 1.57 and a beta of 2.74. Block has a one year low of $44.27 and a one year high of $99.26. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.27 and a current ratio of 2.27.

Insider Activity

In related news, insider Chrysty Esperanza sold 406 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $69.26, for a total transaction of $28,119.56. Following the completion of the transaction, the insider directly owned 130,821 shares in the company, valued at $9,060,662.46. The trade was a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Ajmere Dale sold 366 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $69.26, for a total transaction of $25,349.16. Following the completion of the transaction, the chief accounting officer owned 108,736 shares of the company's stock, valued at approximately $7,531,055.36. The trade was a 0.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,687 shares of company stock valued at $4,377,506. 10.49% of the stock is currently owned by company insiders.

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.

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