Block (NYSE:XYZ) Given New $84.00 Price Target at Robert W. Baird

Block (NYSE:XYZ - Free Report) had its price objective increased by Robert W. Baird from $76.00 to $84.00 in a research note published on Monday,Benzinga reports. Robert W. Baird currently has an outperform rating on the technology company's stock.

A number of other brokerages have also weighed in on XYZ. Raymond James Financial set a $79.00 target price on shares of Block and gave the stock an "outperform" rating in a research note on Monday, June 2nd. Royal Bank Of Canada reduced their target price on shares of Block from $86.00 to $63.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Evercore ISI upped their target price on shares of Block from $75.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Piper Sandler raised shares of Block to an "underweight" rating and set a $50.00 target price for the company in a research note on Tuesday, June 24th. Finally, KGI Securities upgraded shares of Block to a "hold" rating in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $74.91.

Block Stock Performance

NYSE:XYZ remained flat at $79.70 on Monday. The company's stock had a trading volume of 4,619,294 shares, compared to its average volume of 10,198,384. Block has a 1 year low of $44.27 and a 1 year high of $99.26. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.27 and a current ratio of 2.27. The stock has a market cap of $49.02 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 3.21 and a beta of 2.74. The business has a fifty day simple moving average of $65.20.

Block (NYSE:XYZ - Get Free Report) last posted its earnings results on Thursday, May 1st. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.07. The firm had revenue of $5.77 billion during the quarter. Block had a return on equity of 5.71% and a net margin of 10.84%. The firm's revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.47 earnings per share. As a group, equities research analysts forecast that Block will post 2.54 earnings per share for the current fiscal year.

Insider Activity at Block

In other news, insider Brian Grassadonia sold 6,494 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $56.39, for a total transaction of $366,196.66. Following the transaction, the insider directly owned 591,629 shares of the company's stock, valued at approximately $33,361,959.31. This trade represents a 1.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Amrita Ahuja sold 16,358 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $78.60, for a total transaction of $1,285,738.80. Following the transaction, the chief financial officer directly owned 308,397 shares in the company, valued at $24,240,004.20. This represents a 5.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 97,638 shares of company stock valued at $6,223,663. 10.85% of the stock is currently owned by company 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.