Block (NYSE:XYZ) Stock Rating Upgraded by Wall Street Zen

Block (NYSE:XYZ - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

XYZ has been the subject of several other reports. BMO Capital Markets restated a "market perform" rating and set a $58.00 price objective (down from $80.00) on shares of Block in a research report on Friday, May 2nd. The Goldman Sachs Group lowered their price objective on Block from $65.00 to $57.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Royal Bank Of Canada lowered their price objective on Block from $86.00 to $63.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Stephens reaffirmed an "overweight" rating and set a $75.00 target price on shares of Block in a research note on Friday, May 2nd. Finally, KGI Securities raised Block to a "hold" rating in a research note on Friday, May 9th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $74.19.

Block Trading Up 0.0%

XYZ stock opened at $69.23 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.27 and a quick ratio of 2.27. The firm has a market cap of $42.58 billion, a price-to-earnings ratio of 16.84, a PEG ratio of 2.09 and a beta of 2.74. Block has a 1-year low of $44.27 and a 1-year high of $99.26. The business's 50 day simple moving average is $60.61.

Insider Transactions at Block

In other Block news, insider Owen Britton Jennings sold 2,185 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $65.00, for a total transaction of $142,025.00. Following the completion of the sale, the insider owned 278,974 shares in the company, valued at $18,133,310. This represents a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Ajmere Dale sold 1,928 shares of the company's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $56.39, for a total value of $108,719.92. Following the sale, the chief accounting officer owned 109,102 shares of the company's stock, valued at approximately $6,152,261.78. This represents a 1.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,172 shares of company stock worth $4,064,797 over the last three months. Company 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.

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