Block (NYSE:XYZ) Shares Gap Down - Time to Sell?

Block, Inc. (NYSE:XYZ - Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $61.75, but opened at $60.36. Block shares last traded at $60.17, with a volume of 1,185,757 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on XYZ. Citigroup lowered their price objective on Block from $108.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, March 14th. The Goldman Sachs Group dropped their price target on shares of Block from $65.00 to $57.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Evercore ISI raised shares of Block from an "in-line" rating to an "outperform" rating and increased their price target for the stock from $58.00 to $75.00 in a research report on Tuesday. BMO Capital Markets reiterated a "market perform" rating and issued a $58.00 price target (down from $80.00) on shares of Block in a report on Friday, May 2nd. Finally, UBS Group dropped their target price on shares of Block from $98.00 to $97.00 and set a "buy" rating on the stock in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $75.63.

Block Price Performance

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 $39.31 billion, a PE ratio of 14.05, a P/E/G ratio of 0.72 and a beta of 2.83. The business has a fifty day moving average of $55.48.

Insider Buying and Selling

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