Wall Street Zen Upgrades Block (NYSE:XYZ) to “Hold”

Block (NYSE:XYZ) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Other analysts have also issued research reports about the company. Benchmark lowered Block from a “buy” rating to a “hold” rating in a report on Friday, May 2nd. BNP Paribas Exane raised Block from a “neutral” rating to an “outperform” rating and set a $72.00 price target for the company in a report on Tuesday, May 27th. Robert W. Baird cut their price target on Block from $105.00 to $80.00 and set an “outperform” rating for the company in a report on Tuesday, April 8th. Morgan Stanley raised Block from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $65.00 to $67.00 in a report on Thursday, April 3rd. Finally, Raymond James set a $79.00 price target on Block and gave the company an “outperform” rating in a report on Monday, June 2nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $76.22.

Block Stock Performance

Block stock opened at $61.53 on Friday. The stock has a market capitalization of $37.84 billion, a PE ratio of 13.52, a PEG ratio of 0.72 and a beta of 2.75. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07. Block has a one year low of $44.27 and a one year high of $99.26. The firm’s fifty day moving average price is $57.19.

Insider Activity at Block

In related news, CAO Ajmere Dale sold 500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $54.48, for a total transaction of $27,240.00. Following the completion of the transaction, the chief accounting officer now directly owns 81,999 shares of the company’s stock, valued at approximately $4,467,305.52. This represents a 0.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Owen Britton Jennings sold 2,185 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $65.00, for a total value of $142,025.00. Following the transaction, the insider now directly owns 278,974 shares of the company’s stock, valued at approximately $18,133,310. The trade was a 0.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 64,111 shares of company stock valued at $3,689,161. Insiders own 10.85% 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.