Block (NYSE:XYZ) Given New $79.00 Price Target at Raymond James

Block (NYSE:XYZ - Get Free Report) had its price objective upped by research analysts at Raymond James from $74.00 to $79.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the technology company's stock. Raymond James' price objective would suggest a potential upside of 24.29% from the company's previous close.

A number of other research firms have also recently weighed in on XYZ. Bank of America lowered their price target 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. BNP Paribas Exane raised shares of Block from a "neutral" rating to an "outperform" rating and set a $72.00 target price for the company in a research report on Tuesday, May 27th. BNP Paribas raised shares of Block from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 27th. UBS Group decreased their price target on shares of Block from $98.00 to $97.00 and set a "buy" rating for the company in a research report on Friday, February 21st. Finally, Jefferies Financial Group raised their price objective on Block from $60.00 to $70.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Block has an average rating of "Moderate Buy" and a consensus price target of $75.63.

Block Price Performance

Shares of NYSE XYZ traded up $1.80 during midday trading on Monday, hitting $63.56. The company's stock had a trading volume of 7,691,316 shares, compared to its average volume of 9,484,476. The company's fifty day moving average price is $55.35. 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 $39.09 billion, a price-to-earnings ratio of 13.97, a price-to-earnings-growth ratio of 0.72 and a beta of 2.83.

Insider Transactions at Block

In other news, insider Owen Britton Jennings sold 1,263 shares of the firm's 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 completion of the sale, the insider now owns 181,904 shares of the company's stock, valued at $10,221,185.76. This trade represents a 0.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Ajmere Dale sold 500 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $54.48, for a total transaction of $27,240.00. Following the sale, the chief accounting officer now directly owns 81,999 shares of the company's stock, valued at approximately $4,467,305.52. This trade represents a 0.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,126 shares of company stock valued at $3,377,568 in the last quarter. 10.85% of the stock is currently owned by company insiders.

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.