Block (NYSE:XYZ) Price Target Raised to $70.00

Block (NYSE:XYZ - Free Report) had its price target upped by Jefferies Financial Group from $60.00 to $70.00 in a research report report published on Tuesday,Benzinga reports. They currently have a buy rating on the technology company's stock.

Other equities research analysts have also issued research reports about the company. Argus set a $59.00 price target on Block in a research note on Monday, May 5th. Macquarie lowered Block from an "outperform" rating to a "neutral" rating and set a $50.00 price target on the stock. in a research note on Monday, May 5th. Robert W. Baird decreased their target price on Block from $105.00 to $80.00 and set an "outperform" rating for the company in a report on Tuesday, April 8th. Bank of America decreased their target price on Block from $94.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, April 17th. 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 report on Friday, May 2nd. Ten investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $75.23.

Block Stock Performance

XYZ traded down $0.36 on Tuesday, hitting $61.80. The company had a trading volume of 11,485,000 shares, compared to its average volume of 9,470,194. The company has a fifty day simple moving average of $55.30. Block has a 12-month low of $44.27 and a 12-month high of $99.26. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07. The stock has a market cap of $38.01 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 0.72 and a beta of 2.83.

Insider Buying and Selling

In other Block news, insider Dhananjay Prasanna sold 11,318 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $61.41, for a total value of $695,038.38. Following the sale, the insider now owns 318,751 shares of the company's stock, valued at $19,574,498.91. This trade represents a 3.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Ajmere Dale sold 500 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $54.48, for a total value 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,126 shares of company stock valued at $3,377,568. Corporate insiders own 10.85% of the company's stock.

Institutional Investors Weigh In On Block

A hedge fund recently raised its stake in Block stock. Mutual Advisors LLC lifted its holdings in shares of Block, Inc. (NYSE:XYZ - Free Report) by 11.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,040 shares of the technology company's stock after acquiring an additional 498 shares during the period. Mutual Advisors LLC's holdings in Block were worth $435,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 70.44% 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.