Block (NYSE:XYZ) Price Target Cut to $80.00 by Analysts at Robert W. Baird

Block (NYSE:XYZ - Get Free Report) had its target price cut by research analysts at Robert W. Baird from $105.00 to $80.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the technology company's stock. Robert W. Baird's target price points to a potential upside of 48.45% from the company's previous close.

Several other equities research analysts also recently issued reports on the company. Barclays lowered their price target on Block from $112.00 to $97.00 and set an "overweight" rating on the stock in a research report on Monday, February 24th. Piper Sandler decreased their price target on shares of Block from $101.00 to $85.00 and set an "overweight" rating on the stock in a research note on Monday, February 24th. Wells Fargo & Company upped their price objective on Block from $85.00 to $95.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. Canaccord Genuity Group reduced their target price on shares of Block from $120.00 to $100.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. Finally, StockNews.com initiated coverage on Block in a research report on Saturday, February 15th. They set a "hold" rating on the stock. Four investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, Block has an average rating of "Moderate Buy" and an average price target of $91.52.

Block Stock Up 1.9 %

Shares of NYSE XYZ traded up $0.98 during mid-day trading on Tuesday, hitting $53.89. 8,619,599 shares of the company traded hands, compared to its average volume of 8,869,180. The business's 50 day moving average is $64.40. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26. The firm has a market cap of $33.38 billion, a PE ratio of 11.84, a price-to-earnings-growth ratio of 0.72 and a beta of 2.77. Block has a 1 year low of $46.42 and a 1 year high of $99.26.

Block (NYSE:XYZ - Get Free Report) last posted 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 company had revenue of $6.03 billion during the quarter, compared to analysts' expectations of $6.23 billion. Block had a return on equity of 5.80% and a net margin of 11.92%. As a group, research analysts anticipate that Block will post 2.54 EPS for the current year.

Insider Activity at Block

In related news, CFO Amrita Ahuja sold 6,345 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $70.32, for a total transaction of $446,180.40. Following the completion of the transaction, the chief financial officer now directly owns 235,854 shares of the company's stock, valued at approximately $16,585,253.28. This represents a 2.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Ajmere Dale sold 1,467 shares of the business's stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 82,499 shares in the company, valued at $5,801,329.68. This trade represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 19,324 shares of company stock worth $1,297,662. 10.49% of the stock is owned by company insiders.

Institutional Trading of Block

A number of large investors have recently added to or reduced their stakes in the company. Diversify Advisory Services LLC acquired a new position in Block during the fourth quarter worth approximately $1,315,000. Perpetual Ltd acquired a new stake in shares of Block during the 4th quarter worth about $10,779,000. Nomura Asset Management Co. Ltd. grew its stake in Block by 6.2% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 253,787 shares of the technology company's stock valued at $17,037,000 after buying an additional 14,822 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its position in Block by 9.8% during the fourth 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 shares of Block during the fourth quarter worth approximately $3,530,000. Institutional investors and hedge funds own 70.44% of the company's stock.

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.