Block (NYSE:XYZ) Upgraded to Hold at Wall Street Zen

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

Several other brokerages have also recently weighed in on XYZ. KeyCorp reduced their target price on shares of Block from $65.00 to $60.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Canaccord Genuity Group cut their price objective on shares of Block from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Morgan Stanley raised shares of Block from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $65.00 to $67.00 in a report on Thursday, April 3rd. BMO Capital Markets reissued a "market perform" rating and set a $58.00 price objective (down previously from $80.00) on shares of Block in a report on Friday, May 2nd. Finally, BNP Paribas Exane raised shares of Block from a "neutral" rating to an "outperform" rating and set a $72.00 price objective on the stock in a report on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $76.22.

Block Price Performance

Shares of NYSE XYZ traded down $2.32 during midday trading on Friday, hitting $61.53. The company's stock had a trading volume of 7,028,895 shares, compared to its average volume of 9,336,454. The company's fifty day moving average price is $57.19. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07. Block has a 1 year low of $44.27 and a 1 year high of $99.26. The stock has a market capitalization of $37.84 billion, a price-to-earnings ratio of 13.52, a price-to-earnings-growth ratio of 0.72 and a beta of 2.75.

Insider Activity at Block

In related news, insider Chrysty Esperanza sold 7,500 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $55.00, for a total value of $412,500.00. Following the completion of the transaction, the insider now owns 133,940 shares of the company's stock, valued at approximately $7,366,700. The trade was a 5.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Owen Britton Jennings sold 1,263 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $56.19, for a total transaction of $70,967.97. Following the completion of the transaction, 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 64,111 shares of company stock worth $3,689,161 in the last three months. Insiders own 10.85% of the company's stock.

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.