Raymond James Lowers Block (NYSE:XYZ) Price Target to $74.00

Block (NYSE:XYZ) had its price objective decreased by Raymond James from $103.00 to $74.00 in a report issued on Friday,Benzinga reports. Raymond James currently has an outperform rating on the technology company’s stock.

XYZ has been the subject of a number of other research reports. Sanford C. Bernstein set a $100.00 price target on Block in a research note on Saturday, March 8th. UBS Group decreased their target price on shares of Block from $98.00 to $97.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Robert W. Baird cut their price target on shares of 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 shares of Block from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $65.00 to $67.00 in a research note on Thursday, April 3rd. Finally, BMO Capital Markets restated a “market perform” rating and set a $58.00 target price on shares of Block in a research note on Friday. Eight investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $80.03.

Block Stock Down 20.4 %

NYSE XYZ opened at $46.57 on Friday. The firm has a 50-day simple moving average of $56.86. Block has a 12-month low of $44.27 and a 12-month high of $99.26. The company has a market cap of $28.85 billion, a P/E ratio of 10.24, a P/E/G ratio of 0.72 and a beta of 2.77. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26.

Block (NYSE:XYZ) last issued its quarterly earnings results on Thursday, February 20th. The technology company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). Block had a return on equity of 5.80% and a net margin of 11.92%. The company had revenue of $6.03 billion for the quarter, compared to analyst estimates of $6.23 billion. Equities analysts expect that Block will post 2.54 EPS for the current year.

Insider Transactions at Block

In other news, CAO Ajmere Dale sold 1,467 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $70.32, for a total transaction of $103,159.44. Following the completion of the sale, the chief accounting officer now directly owns 82,499 shares in the company, valued at $5,801,329.68. This represents a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Owen Britton Jennings sold 1,263 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $56.19, for a total transaction of $70,967.97. Following the completion of the transaction, the insider now owns 181,904 shares in the company, valued at approximately $10,221,185.76. The trade was a 0.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,324 shares of company stock worth $1,297,662 over the last ninety days. 10.49% of the stock is owned by insiders.

Institutional Investors Weigh In On Block

A number of hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc boosted its holdings in shares of Block by 67.7% during the 4th quarter. Versant Capital Management Inc now owns 394 shares of the technology company’s stock worth $33,000 after buying an additional 159 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Block by 48.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 418 shares of the technology company’s stock valued at $36,000 after acquiring an additional 136 shares during the period. Rosenberg Matthew Hamilton boosted its stake in Block by 18.3% during the fourth quarter. Rosenberg Matthew Hamilton now owns 982 shares of the technology company’s stock worth $83,000 after acquiring an additional 152 shares in the last quarter. Ulland Investment Advisors LLC grew its holdings in Block by 92.3% in the fourth quarter. Ulland Investment Advisors LLC now owns 2,135 shares of the technology company’s stock worth $181,000 after purchasing an additional 1,025 shares during the period. Finally, Simon Quick Advisors LLC bought a new stake in Block in the fourth quarter valued at $203,000. 70.44% of the stock is currently owned by institutional investors.

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.