Block, Inc. (NYSE:XYZ) Given Consensus Rating of "Moderate Buy" by Analysts

Shares of Block, Inc. (NYSE:XYZ - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the twenty-eight ratings firms that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $91.52.

Several brokerages have issued reports on XYZ. Keefe, Bruyette & Woods raised shares of Block from a "market perform" rating to an "outperform" rating and cut their target price for the company from $87.00 to $80.00 in a research note on Tuesday, March 18th. Royal Bank of Canada reissued an "outperform" rating and set a $110.00 price target on shares of Block in a research report on Thursday, February 20th. Needham & Company LLC reissued a "buy" rating and issued a $90.00 price objective on shares of Block in a research note on Friday, February 21st. Citigroup lowered their target price on Block from $108.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. Finally, The Goldman Sachs Group dropped their target price on Block from $94.00 to $74.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd.

Block Stock Performance

Shares of Block stock traded up $0.98 during trading on Tuesday, hitting $53.89. 8,619,599 shares of the stock were exchanged, compared to its average volume of 8,869,180. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. Block has a 12 month low of $46.42 and a 12 month high of $99.26. The company has a fifty day moving average of $64.40. The stock has a market cap of $33.38 billion, a PE ratio of 11.84, a PEG ratio of 0.72 and a beta of 2.77.

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

Insiders Place Their Bets

In related news, CAO Ajmere Dale sold 1,467 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $70.32, for a total value of $103,159.44. Following the completion of the sale, the chief accounting officer now directly owns 82,499 shares of the company's stock, valued at approximately $5,801,329.68. This represents a 1.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Brian Grassadonia sold 4,520 shares of the company's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $70.32, for a total transaction of $317,846.40. Following the completion of the sale, the insider now owns 551,850 shares of the company's stock, valued at approximately $38,806,092. The trade was a 0.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,324 shares of company stock worth $1,297,662. Insiders own 10.49% of the company's stock.

Institutional Investors Weigh In On Block

Institutional investors have recently added to or reduced their stakes in the company. Diversify Advisory Services LLC bought a new position in shares of Block during the 4th quarter valued at approximately $1,315,000. Perpetual Ltd purchased a new position in shares of Block during the 4th quarter valued at $10,779,000. Nomura Asset Management Co. Ltd. grew its stake in shares of Block by 6.2% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 253,787 shares of the technology company's stock worth $17,037,000 after acquiring an additional 14,822 shares during the period. Wealthcare Advisory Partners LLC increased its holdings in Block by 9.8% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 8,065 shares of the technology company's stock worth $685,000 after acquiring an additional 717 shares during the last quarter. Finally, TB Alternative Assets Ltd. bought a new stake in Block in the 4th quarter valued at about $3,530,000. 70.44% of the stock is owned by institutional investors.

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.