Barclays Has Lowered Expectations for Block (NYSE:XYZ) Stock Price

Block (NYSE:XYZ - Free Report) had its price target decreased by Barclays from $112.00 to $97.00 in a research report report published on Monday morning,Benzinga reports. Barclays currently has an overweight rating on the technology company's stock.

Other equities research analysts have also issued reports about the company. The Goldman Sachs Group decreased their price objective on Block from $109.00 to $94.00 and set a "buy" rating for the company in a research report on Friday. BNP Paribas downgraded shares of Block from an "outperform" rating to a "neutral" rating and set a $88.00 price objective on the stock. in a research report on Wednesday, November 20th. Macquarie upped their price objective on shares of Block from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Tuesday, December 10th. Needham & Company LLC reissued a "buy" rating and set a $90.00 target price on shares of Block in a research note on Friday. Finally, Citigroup increased their price objective on Block from $90.00 to $108.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Six research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, Block presently has an average rating of "Moderate Buy" and an average target price of $96.31.

Block Stock Down 4.5 %

Shares of XYZ stock traded down $2.99 during trading hours on Monday, reaching $62.93. 17,945,493 shares of the stock traded hands, compared to its average volume of 7,432,469. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07. The firm has a market capitalization of $39.00 billion, a P/E ratio of 13.83, a P/E/G ratio of 0.72 and a beta of 2.53. Block has a 1-year low of $55.00 and a 1-year high of $99.26.

Block (NYSE:XYZ - Get Free Report) last announced its earnings results on Thursday, February 20th. The technology company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.11). The firm had revenue of $6.03 billion for the quarter, compared to analyst estimates of $6.23 billion. Block had a net margin of 11.92% and a return on equity of 5.80%. As a group, equities research analysts anticipate that Block will post 2.54 EPS for the current year.

Insider Activity at Block

In other news, CAO Ajmere Dale sold 2,044 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $86.72, for a total transaction of $177,255.68. Following the completion of the transaction, the chief accounting officer now directly owns 83,966 shares of the company's stock, valued at approximately $7,281,531.52. This trade represents a 2.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chrysty Esperanza sold 2,865 shares of the company's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $95.00, for a total transaction of $272,175.00. Following the completion of the sale, the insider now directly owns 85,235 shares in the company, valued at approximately $8,097,325. The trade was a 3.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,247 shares of company stock worth $832,865 over the last three months. Company insiders own 10.49% of the company's stock.

Hedge Funds Weigh In On Block

Several hedge funds and other institutional investors have recently modified their holdings of the stock. SouthState Corp grew its position in Block by 85.3% in the third quarter. SouthState Corp now owns 391 shares of the technology company's stock valued at $26,000 after acquiring an additional 180 shares during the period. True Wealth Design LLC grew its stake in Block by 64.7% during the third quarter. True Wealth Design LLC now owns 494 shares of the technology company's stock worth $33,000 after buying an additional 194 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Block by 67.7% during the fourth quarter. Versant Capital Management Inc now owns 394 shares of the technology company's stock worth $33,000 after buying an additional 159 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Block by 48.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 418 shares of the technology company's stock valued at $36,000 after acquiring an additional 136 shares during the last quarter. Finally, Morton Brown Family Wealth LLC acquired a new position in shares of Block in the 3rd quarter worth approximately $67,000. Institutional investors own 70.44% 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.