Robert W. Baird Forecasts Strong Price Appreciation for Block (NYSE:XYZ) Stock

Block (NYSE:XYZ - Get Free Report) had its price target hoisted by equities researchers at Robert W. Baird from $76.00 to $84.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an "outperform" rating on the technology company's stock. Robert W. Baird's target price points to a potential upside of 15.29% from the company's current price.

A number of other research firms have also recently weighed in on XYZ. Compass Point initiated coverage on shares of Block in a report on Wednesday, July 2nd. They set a "buy" rating and a $80.00 price objective on the stock. Bank of America cut their price objective on shares of Block from $94.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Needham & Company LLC cut their price objective on shares of Block from $90.00 to $60.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Piper Sandler raised shares of Block to an "underweight" rating and set a $50.00 price objective on the stock in a report on Tuesday, June 24th. Finally, Macquarie cut shares of Block from an "outperform" rating to a "neutral" rating and set a $50.00 price objective on the stock. in a report on Monday, May 5th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $74.75.

Block Trading Up 3.0%

XYZ stock opened at $72.86 on Monday. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.24. Block has a twelve month low of $44.27 and a twelve month high of $99.26. The business's 50 day moving average is $63.88. The firm has a market capitalization of $44.81 billion, a PE ratio of 17.73, a P/E/G ratio of 2.94 and a beta of 2.74.

Insider Activity at Block

In related news, insider Dhananjay Prasanna sold 800 shares of the business's stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $70.00, for a total value of $56,000.00. Following the sale, the insider directly owned 303,551 shares in the company, valued at $21,248,570. The trade was a 0.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian Grassadonia sold 1,342 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $69.26, for a total transaction of $92,946.92. Following the completion of the sale, the insider owned 590,287 shares in the company, valued at $40,883,277.62. This represents a 0.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,287 shares of company stock worth $4,624,074. 10.49% 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.

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