Block (NYSE:XYZ) Price Target Raised to $75.00

Block (NYSE:XYZ - Get Free Report) had its target price raised by equities researchers at Barclays from $57.00 to $75.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the technology company's stock. Barclays's target price would indicate a potential upside of 14.07% from the company's current price.

Other research analysts have also issued research reports about the stock. Benchmark lowered shares of Block from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. UBS Group decreased their target price on Block from $98.00 to $97.00 and set a "buy" rating on the stock in a report on Friday, February 21st. Wells Fargo & Company lowered Block from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $95.00 to $50.00 in a research report on Friday, May 2nd. Seaport Res Ptn lowered Block from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 2nd. Finally, BNP Paribas Exane raised Block from a "neutral" rating to an "outperform" rating and set a $72.00 price target on the stock in a research note on Tuesday, May 27th. 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 given a strong buy rating to the company. According to MarketBeat, Block presently has a consensus rating of "Moderate Buy" and an average target price of $76.22.

Block Price Performance

Shares of XYZ traded up $0.76 during midday trading on Monday, reaching $65.75. The stock had a trading volume of 2,177,589 shares, compared to its average volume of 9,369,704. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26. The firm has a market cap of $40.44 billion, a P/E ratio of 14.45, a P/E/G ratio of 0.72 and a beta of 2.75. The firm has a 50 day moving average of $56.03. Block has a 52 week low of $44.27 and a 52 week high of $99.26.

Insider Transactions at Block

In other news, CAO Ajmere Dale sold 500 shares of the 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 transaction, the chief accounting officer now owns 81,999 shares of the company's stock, valued at approximately $4,467,305.52. This represents a 0.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Owen Britton Jennings sold 1,263 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $56.19, for a total value of $70,967.97. Following the sale, the insider now directly owns 181,904 shares of the company's stock, valued at $10,221,185.76. The trade was a 0.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 61,926 shares of company stock worth $3,547,136 in the last 90 days. 10.85% of the stock is owned by insiders.

Block Company Profile

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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