Block (NYSE:XYZ) Lowered to "Sell" Rating by Wall Street Zen

Block (NYSE:XYZ - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Friday.

Several other brokerages also recently commented on XYZ. Stephens reissued an "overweight" rating and set a $75.00 price target on shares of Block in a report on Friday, May 2nd. Piper Sandler lowered Block from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $85.00 to $51.00 in a research report on Friday, May 2nd. Canaccord Genuity Group cut their price target on Block from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. KGI Securities raised Block to a "hold" rating in a research note on Friday, May 9th. Finally, The Goldman Sachs Group decreased their target price on Block from $65.00 to $57.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Block has an average rating of "Moderate Buy" and a consensus target price of $75.66.

Block Price Performance

Shares of XYZ stock traded up $1.44 during trading hours on Friday, hitting $65.04. 7,815,846 shares of the company's stock were exchanged, compared to its average volume of 9,438,597. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. Block has a 52 week low of $44.27 and a 52 week high of $99.26. The firm has a market cap of $40.00 billion, a PE ratio of 14.29, a price-to-earnings-growth ratio of 0.72 and a beta of 2.83. The company has a 50-day moving average price of $56.03.

Insider Activity at Block

In other news, CAO Ajmere Dale sold 500 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $54.48, for a total transaction of $27,240.00. Following the completion of the sale, the chief accounting officer now directly owns 81,999 shares in the company, valued at $4,467,305.52. This represents a 0.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Dhananjay Prasanna sold 11,318 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $61.41, for a total transaction of $695,038.38. Following the completion of the sale, the insider now owns 318,751 shares of the company's stock, valued at $19,574,498.91. The trade was a 3.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 61,926 shares of company stock valued at $3,547,136. 10.85% of the stock is owned by corporate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.