Raymond James Raises Block (NYSE:XYZ) Price Target to $79.00

Block (NYSE:XYZ) had its target price lifted by Raymond James from $74.00 to $79.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

XYZ has been the topic of several other research reports. KeyCorp lowered their price target on Block from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday, May 2nd. Truist Financial began coverage on Block in a report on Monday. They issued a “sell” rating and a $60.00 price target on the stock. KGI Securities raised Block to a “hold” rating in a report on Friday, May 9th. Sanford C. Bernstein set a $100.00 price target on Block in a report on Saturday, March 8th. Finally, Macquarie cut Block from an “outperform” rating to a “neutral” rating and set a $50.00 price target on the stock. in a report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $75.63.

Block Trading Up 0.6%

Shares of Block stock opened at $63.92 on Monday. The stock has a 50-day moving average price of $55.65. The stock has a market capitalization of $39.31 billion, a P/E ratio of 14.05, a price-to-earnings-growth 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. Block has a 12-month low of $44.27 and a 12-month high of $99.26.

Insider Buying and Selling at Block

In other news, insider Dhananjay Prasanna sold 11,318 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $61.41, for a total value of $695,038.38. Following the transaction, the insider now owns 318,751 shares in the company, valued at approximately $19,574,498.91. This trade represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 completion of the transaction, the chief accounting officer now owns 81,999 shares in the company, valued at $4,467,305.52. This represents a 0.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,926 shares of company stock worth $3,547,136 over the last ninety days. 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.