Block (NYSE:XYZ) Rating Increased to Outperform at Evercore ISI

Evercore ISI upgraded shares of Block (NYSE:XYZ - Free Report) from an in-line rating to an outperform rating in a research report sent to investors on Tuesday, MarketBeat reports. Evercore ISI currently has $75.00 price target on the technology company's stock, up from their prior price target of $58.00.

Other analysts also recently issued reports about the company. Wall Street Zen initiated coverage on Block in a research report on Saturday, February 15th. They set a "hold" rating on the stock. Raymond James lifted their price target on Block from $74.00 to $79.00 and gave the stock an "outperform" rating in a research note on Monday. 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 research note on Tuesday, May 27th. Sanford C. Bernstein set a $100.00 target price on shares of Block in a research report on Saturday, March 8th. Finally, Wells Fargo & Company downgraded shares of Block from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $95.00 to $50.00 in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Block presently has a consensus rating of "Moderate Buy" and a consensus price target of $75.63.

Block Trading Down 0.3%

Shares of NYSE:XYZ traded down $0.20 during trading on Tuesday, hitting $63.66. 8,145,387 shares of the stock were exchanged, compared to its average volume of 9,453,244. The company has a market capitalization of $39.15 billion, a P/E ratio of 13.99, a PEG ratio of 0.72 and a beta of 2.83. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07. The company has a fifty day simple moving average of $55.65. Block has a 12-month low of $44.27 and a 12-month high of $99.26.

Insider Activity

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

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.