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

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

Several other analysts also recently weighed in on the company. Evercore ISI upgraded Block from an "in-line" rating to an "outperform" rating and lifted their target price for the stock from $58.00 to $75.00 in a research report on Tuesday, June 3rd. Jefferies Financial Group lifted their price objective on Block from $60.00 to $70.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Piper Sandler downgraded Block from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $85.00 to $51.00 in a report on Friday, May 2nd. Morgan Stanley upgraded Block from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $65.00 to $67.00 in a report on Thursday, April 3rd. Finally, Stephens restated an "overweight" rating and issued a $75.00 price objective on shares of Block in a report on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Block presently has an average rating of "Moderate Buy" and an average target price of $76.22.

Block Trading Up 0.9%

NYSE:XYZ opened at $63.66 on Friday. Block has a twelve month low of $44.27 and a twelve month high of $99.26. The company has a market capitalization of $39.15 billion, a P/E ratio of 15.49, a price-to-earnings-growth ratio of 2.31 and a beta of 2.75. The stock's fifty day simple moving average is $58.20. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.27 and a current ratio of 2.27.

Insiders Place Their Bets

In other news, CAO Ajmere Dale sold 500 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $54.48, for a total transaction of $27,240.00. Following the sale, the chief accounting officer now owns 81,999 shares in the company, valued at approximately $4,467,305.52. The trade was a 0.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Owen Britton Jennings sold 2,185 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $65.00, for a total value of $142,025.00. Following the sale, the insider now owns 278,974 shares in the company, valued at $18,133,310. The trade was a 0.78% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,911 shares of company stock worth $3,866,989. 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.

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