Block (NYSE:XYZ) Price Target Raised to $90.00

Block (NYSE:XYZ) had its target price raised by JPMorgan Chase & Co. from $60.00 to $90.00 in a research note released on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company’s stock.

XYZ has been the subject of a number of other research reports. BNP Paribas raised shares of Block from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 27th. Macquarie cut shares of Block from an “outperform” rating to a “neutral” rating and set a $50.00 price objective for the company. in a research note on Monday, May 5th. BNP Paribas Exane raised shares of Block from a “neutral” rating to an “outperform” rating and set a $72.00 target price on the stock in a report on Tuesday, May 27th. Piper Sandler raised shares of Block to an “underweight” rating and set a $50.00 price target on the stock in a report on Tuesday, June 24th. Finally, Bank of America cut their target price on shares of Block from $94.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Block has an average rating of “Moderate Buy” and a consensus price target of $74.91.

Block Trading Up 0.7%

Shares of NYSE XYZ opened at $79.79 on Monday. Block has a 1-year low of $44.27 and a 1-year high of $99.26. The company has a market capitalization of $49.07 billion, a P/E ratio of 19.41, a PEG ratio of 3.21 and a beta of 2.74. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.27 and a current ratio of 2.27. The business has a 50-day moving average of $65.20.

Block (NYSE:XYZ) last posted its quarterly earnings results on Thursday, May 1st. The technology company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.07. The business had revenue of $5.77 billion during the quarter. Block had a net margin of 10.84% and a return on equity of 5.71%. The company’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period last year, the firm earned $0.47 earnings per share. As a group, equities research analysts forecast that Block will post 2.54 earnings per share for the current year.

Insider Transactions at Block

In other news, insider Owen Britton Jennings sold 3,993 shares of the business’s stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $78.60, for a total transaction of $313,849.80. Following the sale, the insider owned 273,931 shares in the company, valued at approximately $21,530,976.60. The trade was a 1.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chrysty Esperanza sold 406 shares of the business’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $69.26, for a total value of $28,119.56. Following the sale, the insider owned 130,821 shares in the company, valued at $9,060,662.46. The trade was a 0.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 97,638 shares of company stock valued at $6,223,663 over the last three months. 10.85% of the stock is currently owned by corporate insiders.

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.