Block, Inc. (NYSE:XYZ) Receives $81.50 Consensus Price Target from Brokerages

Block, Inc. (NYSE:XYZ) has been assigned an average recommendation of “Moderate Buy” from the thirty-six brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $82.7941.

XYZ has been the topic of a number of analyst reports. Oppenheimer lifted their price objective on shares of Block from $85.00 to $89.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. The Goldman Sachs Group reduced their price target on Block from $96.00 to $82.00 and set a “buy” rating for the company in a report on Friday, November 7th. Zacks Research lowered shares of Block from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. BTIG Research reiterated a “buy” rating and issued a $90.00 price target on shares of Block in a research note on Friday, February 27th. Finally, Truist Financial set a $72.00 price objective on Block in a report on Tuesday, January 20th.

Insider Buying and Selling at Block

In other news, insider Brian Grassadonia sold 10,349 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $50.00, for a total value of $517,450.00. Following the transaction, the insider directly owned 503,784 shares in the company, valued at approximately $25,189,200. This trade represents a 2.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Ajmere Dale sold 1,173 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $65.09, for a total value of $76,350.57. Following the completion of the sale, the chief accounting officer directly owned 98,412 shares in the company, valued at approximately $6,405,637.08. This trade represents a 1.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,797 shares of company stock valued at $940,298 over the last three months. 10.49% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Block

A number of hedge funds and other institutional investors have recently modified their holdings of XYZ. Howard Capital Management Inc. grew its position in Block by 3.2% during the 3rd quarter. Howard Capital Management Inc. now owns 4,439 shares of the technology company’s stock worth $321,000 after purchasing an additional 138 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in Block by 23.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 853 shares of the technology company’s stock valued at $66,000 after acquiring an additional 160 shares in the last quarter. Sound Income Strategies LLC increased its holdings in shares of Block by 57.1% in the 4th quarter. Sound Income Strategies LLC now owns 443 shares of the technology company’s stock valued at $29,000 after purchasing an additional 161 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Block by 0.8% in the third quarter. Jones Financial Companies Lllp now owns 21,183 shares of the technology company’s stock worth $1,561,000 after purchasing an additional 167 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Block by 33.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 707 shares of the technology company’s stock worth $46,000 after purchasing an additional 179 shares in the last quarter. 70.44% of the stock is currently owned by institutional investors.

Block Stock Performance

Shares of XYZ stock opened at $63.03 on Friday. The company has a 50 day moving average price of $61.22 and a 200 day moving average price of $67.94. Block has a one year low of $44.27 and a one year high of $82.50. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.20 and a current ratio of 2.20. The firm has a market capitalization of $38.30 billion, a price-to-earnings ratio of 30.01, a price-to-earnings-growth ratio of 1.28 and a beta of 2.65.

Block (NYSE:XYZ) last released its quarterly earnings data on Thursday, February 26th. The technology company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.39. Block had a return on equity of 6.66% and a net margin of 5.40%.The company had revenue of $6.25 billion for the quarter. During the same quarter last year, the business earned $0.71 earnings per share. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. Sell-side analysts anticipate that Block will post 2.54 EPS for the current year.

About Block

Block (NYSE:XYZ) is a financial technology company that builds products and services to facilitate electronic payments, commerce, and consumer finance. Its principal business lines include a seller-focused ecosystem that provides point-of-sale hardware and software, payment processing, invoicing, payroll and lending services, and a consumer-facing platform that offers peer-to-peer payments, banking-like features, and investing. Block’s portfolio also encompasses music streaming and buy-now-pay-later capabilities through businesses acquired to broaden its reach beyond core payments.

The company was founded as Square in 2009 by Jack Dorsey and Jim McKelvey and later rebranded to Block to reflect a diversified set of businesses across payments, consumer finance, and emerging technologies.