Block (NYSE:XYZ) Price Target Raised to $95.00 at Monness Crespi & Hardt

Block (NYSE:XYZ) had its price objective increased by Monness Crespi & Hardt from $75.00 to $95.00 in a research report sent to investors on Monday, MarketBeat.com reports. Monness Crespi & Hardt currently has a buy rating on the technology company’s stock.

Other equities research analysts have also issued research reports about the company. Macquarie lowered Block from an “outperform” rating to a “neutral” rating and set a $50.00 target price on the stock. in a research report on Monday, May 5th. KeyCorp cut their price target on Block from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday, May 2nd. Keefe, Bruyette & Woods lifted their price objective on shares of Block from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, July 9th. Robert W. Baird increased their target price on shares of Block from $76.00 to $84.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. Finally, Benchmark cut shares of Block from a “buy” rating to a “hold” rating in a report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $73.73.

Block Stock Performance

Shares of XYZ opened at $76.09 on Monday. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.24. The firm’s fifty day simple moving average is $68.71 and its two-hundred day simple moving average is $65.31. Block has a 12 month low of $44.27 and a 12 month high of $99.26. The stock has a market capitalization of $46.80 billion, a P/E ratio of 18.51, a price-to-earnings-growth ratio of 2.96 and a beta of 2.71.

Insider Buying and Selling

In related news, CFO Amrita Ahuja sold 16,358 shares of the company’s stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $78.60, for a total transaction of $1,285,738.80. Following the sale, the chief financial officer directly owned 308,397 shares in the company, valued at approximately $24,240,004.20. This represents a 5.04% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Dhananjay Prasanna sold 3,600 shares of the business’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $74.93, for a total transaction of $269,748.00. Following the sale, the insider directly owned 299,151 shares in the company, valued at $22,415,384.43. The trade was a 1.19% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 102,538 shares of company stock valued at $6,597,411. Corporate insiders own 10.85% of the company’s stock.

Institutional Investors Weigh In On Block

Several hedge funds and other institutional investors have recently modified their holdings of XYZ. SouthState Corp purchased a new position in shares of Block during the 2nd quarter valued at $29,000. First Horizon Advisors Inc. bought a new stake in Block during the second quarter valued at $30,000. Deseret Mutual Benefit Administrators purchased a new position in Block during the second quarter worth about $33,000. Creative Financial Designs Inc. ADV bought a new position in Block in the 2nd quarter worth about $41,000. Finally, Crewe Advisors LLC purchased a new stake in shares of Block in the 2nd quarter valued at about $46,000. 70.44% of the stock is currently owned by institutional investors.

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.