Block (NYSE:XYZ) Given New $90.00 Price Target at JPMorgan Chase & Co.

Block (NYSE:XYZ - Get Free Report) had its price objective raised by investment analysts at JPMorgan Chase & Co. from $60.00 to $90.00 in a research report issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the technology company's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 14.23% from the company's previous close.

Several other brokerages have also recently commented on XYZ. Wall Street Zen upgraded shares of Block from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Canaccord Genuity Group decreased their price target on shares of Block from $100.00 to $80.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Wolfe Research set a $75.00 target price on shares of Block in a report on Monday, May 19th. KeyCorp reduced their target price on shares of Block from $65.00 to $60.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Finally, Benchmark downgraded shares of Block from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $74.91.

Block Stock Performance

Shares of XYZ traded up $0.71 on Monday, hitting $78.79. 139,292,664 shares of the stock traded hands, compared to its average volume of 10,215,962. The stock has a market cap of $48.46 billion, a P/E ratio of 19.17, a PEG ratio of 2.94 and a beta of 2.74. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.27 and a quick ratio of 2.27. The firm has a 50 day simple moving average of $63.88. Block has a one year low of $44.27 and a one year high of $99.26.

Block (NYSE:XYZ - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.07. The business had revenue of $5.77 billion for the quarter. Block had a net margin of 10.84% and a return on equity of 5.71%. The company's revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.47 EPS. On average, equities analysts expect that Block will post 2.54 earnings per share for the current year.

Insider Activity

In other news, CAO Ajmere Dale sold 366 shares of the firm's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $69.26, for a total value of $25,349.16. Following the sale, the chief accounting officer directly owned 108,736 shares in the company, valued at approximately $7,531,055.36. This trade represents a 0.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dhananjay Prasanna sold 800 shares of the stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $70.00, for a total transaction of $56,000.00. Following the completion of the transaction, the insider directly owned 303,551 shares in the company, valued at $21,248,570. This trade represents a 0.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,287 shares of company stock worth $4,624,074 over the last 90 days. Company insiders own 10.49% of the company's stock.

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.