Block (NYSE:XYZ) Price Target Cut to $103.00 by Analysts at Raymond James

Block (NYSE:XYZ) had its target price trimmed by Raymond James from $115.00 to $103.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

A number of other equities analysts have also recently issued reports on the stock. Piper Sandler reiterated an “overweight” rating and issued a $83.00 price target on shares of Block in a research note on Monday, November 11th. Canaccord Genuity Group upped their price target on shares of Block from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. William Blair reiterated an “outperform” rating on shares of Block in a research note on Friday, November 15th. Citigroup upped their price target on shares of Block from $90.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of Block in a research note on Friday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-six have issued a buy rating to the company. Based on data from MarketBeat, Block presently has an average rating of “Moderate Buy” and a consensus target price of $97.23.

Block Stock Down 17.7 %

NYSE:XYZ opened at $68.34 on Friday. The stock has a market capitalization of $42.36 billion, a PE ratio of 38.39, a price-to-earnings-growth ratio of 0.73 and a beta of 2.52. 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 1-year low of $55.00 and a 1-year high of $99.26.

Block (NYSE:XYZ) last released its earnings results on Thursday, February 20th. The technology company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). The business had revenue of $6.03 billion during the quarter, compared to analysts’ expectations of $6.23 billion. Block had a return on equity of 5.24% and a net margin of 4.73%. As a group, sell-side analysts predict that Block will post 1.72 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Chrysty Esperanza sold 2,865 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $95.00, for a total value of $272,175.00. Following the transaction, the insider now directly owns 85,235 shares of the company’s stock, valued at approximately $8,097,325. The trade was a 3.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amrita Ahuja sold 1,502 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $86.52, for a total value of $129,953.04. Following the completion of the transaction, the chief financial officer now directly owns 242,199 shares in the company, valued at approximately $20,955,057.48. This represents a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,247 shares of company stock worth $832,865. Company insiders own 10.49% of the company’s stock.

Institutional Trading of Block

A number of large investors have recently added to or reduced their stakes in XYZ. Creative Planning increased its stake in Block by 10.5% in the 3rd quarter. Creative Planning now owns 73,399 shares of the technology company’s stock worth $4,927,000 after acquiring an additional 6,990 shares during the last quarter. Whittier Trust Co. increased its position in shares of Block by 30.0% during the 3rd quarter. Whittier Trust Co. now owns 1,798 shares of the technology company’s stock valued at $121,000 after purchasing an additional 415 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Block by 15.1% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 8,322 shares of the technology company’s stock valued at $559,000 after purchasing an additional 1,089 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Block during the 3rd quarter valued at approximately $58,850,000. Finally, IFM Investors Pty Ltd increased its position in shares of Block by 0.4% during the 3rd quarter. IFM Investors Pty Ltd now owns 109,276 shares of the technology company’s stock valued at $7,336,000 after purchasing an additional 489 shares during the last quarter. 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.