Block (NYSE:XYZ) Given New $94.00 Price Target at The Goldman Sachs Group

Block (NYSE:XYZ) had its target price lowered by stock analysts at The Goldman Sachs Group from $109.00 to $94.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 33.13% from the company’s current price.

XYZ has been the subject of a number of other research reports. Keefe, Bruyette & Woods lowered their target price on shares of Block from $100.00 to $87.00 and set a “market perform” rating for the company in a research note on Friday. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Block in a research note on Friday. Royal Bank of Canada restated an “outperform” rating and issued a $110.00 price objective on shares of Block in a research note on Thursday. Raymond James decreased their price objective on shares of Block from $115.00 to $103.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Piper Sandler restated an “overweight” rating and issued a $83.00 price objective on shares of Block in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $97.73.

Block Stock Down 15.0 %

Shares of Block stock traded down $12.43 during trading hours on Friday, reaching $70.61. 20,875,772 shares of the company were exchanged, compared to its average volume of 6,334,886. Block has a 1 year low of $55.00 and a 1 year high of $99.26. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $43.76 billion, a P/E ratio of 39.67, a P/E/G ratio of 0.73 and a beta of 2.52.

Block (NYSE:XYZ) last issued its earnings results on Thursday, February 20th. The technology company reported $0.26 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 analyst estimates of $6.23 billion. Block had a return on equity of 5.24% and a net margin of 4.73%. As a group, equities analysts expect that Block will post 1.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Block news, insider Owen Britton Jennings sold 2,836 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $89.38, for a total value of $253,481.68. Following the completion of the transaction, the insider now directly owns 195,449 shares of the company’s stock, valued at approximately $17,469,231.62. This trade represents a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Chrysty Esperanza sold 2,865 shares of the 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 transaction, the insider now directly owns 85,235 shares of the company’s stock, valued at approximately $8,097,325. This trade represents a 3.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,247 shares of company stock valued at $832,865 over the last ninety days. Corporate insiders own 10.49% of the company’s stock.

Institutional Trading of Block

Several large investors have recently modified their holdings of the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of Block by 183.8% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 9,154 shares of the technology company’s stock valued at $778,000 after purchasing an additional 5,929 shares during the last quarter. Guerra Pan Advisors LLC acquired a new stake in shares of Block in the fourth quarter valued at approximately $211,000. Moody Lynn & Lieberson LLC acquired a new stake in shares of Block in the fourth quarter valued at approximately $3,775,000. Toth Financial Advisory Corp boosted its position in Block by 18,150.0% during the fourth quarter. Toth Financial Advisory Corp now owns 7,300 shares of the technology company’s stock worth $620,000 after acquiring an additional 7,260 shares during the last quarter. Finally, Nepsis Inc. acquired a new stake in Block during the fourth quarter worth approximately $9,769,000. 70.44% of the stock is currently owned by institutional investors and hedge funds.

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.