Block (NYSE:XYZ) Given New $75.00 Price Target at Barclays

Block (NYSE:XYZ) had its price objective increased by Barclays from $57.00 to $75.00 in a report released on Monday morning,Benzinga reports. Barclays currently has an overweight rating on the technology company’s stock.

Several other equities research analysts have also issued reports on the stock. Wells Fargo & Company lowered shares of Block from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $95.00 to $50.00 in a report on Friday, May 2nd. The Goldman Sachs Group lowered their target price on shares of Block from $65.00 to $57.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Bank of America lowered their target price on shares of Block from $94.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Benchmark lowered shares of Block from a “buy” rating to a “hold” rating in a report on Friday, May 2nd. Finally, Argus set a $59.00 target price on shares of Block in a report on Monday, May 5th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.22.

Block Trading Down 0.7%

Block stock opened at $64.06 on Monday. The business has a 50-day moving average price of $56.68. The company has a market cap of $39.40 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 0.72 and a beta of 2.75. 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 has a 12-month low of $44.27 and a 12-month high of $99.26.

Insider Transactions at Block

In other news, insider Owen Britton Jennings sold 1,263 shares of Block stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $56.19, for a total value of $70,967.97. Following the transaction, the insider now owns 181,904 shares of the company’s stock, valued at $10,221,185.76. The trade was a 0.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Ajmere Dale sold 500 shares of Block 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 in the company, valued at approximately $4,467,305.52. The trade was a 0.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 64,111 shares of company stock valued at $3,689,161 in the last 90 days. 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.