Block (NYSE:XYZ) Price Target Raised to $85.00 at Evercore ISI

Block (NYSE:XYZ - Free Report) had its price objective upped by Evercore ISI from $75.00 to $85.00 in a report published on Thursday morning,Benzinga reports. They currently have an outperform rating on the technology company's stock.

A number of other equities research analysts also recently issued reports on the stock. Argus set a $59.00 price target on shares of Block in a research note on Monday, May 5th. Macquarie downgraded shares of Block from an "outperform" rating to a "neutral" rating and set a $50.00 target price on the stock. in a research note on Monday, May 5th. BMO Capital Markets reaffirmed a "market perform" rating and set a $58.00 target price (down from $80.00) on shares of Block in a research note on Friday, May 2nd. Bank of America cut their target price on shares of Block from $94.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Finally, Stephens reaffirmed an "overweight" rating and set a $75.00 target price on shares of Block in a research note on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Block presently has a consensus rating of "Moderate Buy" and a consensus target price of $74.63.

Block Stock Performance

Shares of Block stock traded up $2.13 on Thursday, reaching $72.86. The company had a trading volume of 9,998,561 shares, compared to its average volume of 8,956,144. The business has a 50 day simple moving average of $63.43. The stock has a market cap of $44.81 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 1.71 and a beta of 2.74. Block has a 52-week low of $44.27 and a 52-week high of $99.26. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.24.

Insiders Place Their Bets

In other news, CFO Amrita Ahuja sold 10,002 shares of the company's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $56.39, for a total value of $564,012.78. Following the completion of the transaction, the chief financial officer owned 326,106 shares in the company, valued at approximately $18,389,117.34. This represents a 2.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Owen Britton Jennings sold 11,556 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $56.42, for a total transaction of $651,989.52. Following the sale, the insider owned 284,739 shares of the company's stock, valued at approximately $16,064,974.38. This represents a 3.90% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 77,287 shares of company stock worth $4,624,074. 10.85% of the stock is currently owned by company 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.