Block, Inc. (NYSE:XYZ) Receives $82.94 Consensus Target Price from Analysts

Shares of Block, Inc. (NYSE:XYZ) have been assigned an average rating of “Moderate Buy” from the thirty-seven research firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-three have assigned a buy rating and three have issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $82.8182.

A number of research firms have issued reports on XYZ. Zacks Research lowered shares of Block from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Truist Financial upgraded Block from a “sell” rating to a “hold” rating in a report on Monday, November 17th. BNP Paribas raised Block from a “hold” rating to an “outperform” rating and set a $83.00 price objective for the company in a research note on Wednesday, January 7th. Citigroup raised Block to a “strong-buy” rating in a research report on Thursday, October 23rd. Finally, Keefe, Bruyette & Woods cut their target price on Block from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Friday, January 2nd.

Insider Activity at Block

In other news, CFO Amrita Ahuja sold 9,959 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $61.40, for a total value of $611,482.60. Following the transaction, the chief financial officer owned 272,965 shares in the company, valued at $16,760,051. The trade was a 3.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Arnaud Weber sold 7,095 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $61.40, for a total value of $435,633.00. Following the completion of the transaction, the insider directly owned 259,136 shares of the company’s stock, valued at approximately $15,910,950.40. This represents a 2.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 54,796 shares of company stock valued at $3,395,943 over the last 90 days. Corporate insiders own 10.85% of the company’s stock.

Hedge Funds Weigh In On Block

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Spire Wealth Management increased its stake in shares of Block by 43.4% during the 4th quarter. Spire Wealth Management now owns 1,711 shares of the technology company’s stock worth $111,000 after purchasing an additional 518 shares during the last quarter. CoreCap Advisors LLC increased its position in Block by 37.2% in the fourth quarter. CoreCap Advisors LLC now owns 1,799 shares of the technology company’s stock worth $117,000 after buying an additional 488 shares during the last quarter. Norden Group LLC bought a new stake in shares of Block in the fourth quarter valued at $222,000. CVA Family Office LLC raised its stake in shares of Block by 182.7% in the fourth quarter. CVA Family Office LLC now owns 766 shares of the technology company’s stock valued at $50,000 after buying an additional 495 shares during the period. Finally, Czech National Bank lifted its position in shares of Block by 3.5% during the 4th quarter. Czech National Bank now owns 144,412 shares of the technology company’s stock valued at $9,400,000 after buying an additional 4,831 shares during the last quarter. 70.44% of the stock is owned by hedge funds and other institutional investors.

Block Stock Performance

Shares of XYZ stock opened at $65.53 on Thursday. The business’s 50-day moving average price is $64.70 and its 200-day moving average price is $71.57. The firm has a market capitalization of $39.82 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 1.24 and a beta of 2.66. Block has a 12 month low of $44.27 and a 12 month high of $94.25. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.25.

Block (NYSE:XYZ) last released its quarterly earnings results on Thursday, November 6th. The technology company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.29. Block had a return on equity of 5.54% and a net margin of 12.99%.The firm had revenue of $6.11 billion for the quarter. During the same quarter last year, the firm posted $0.53 EPS. The company’s quarterly revenue was up 2.3% on a year-over-year basis. Equities research analysts forecast that Block will post 2.54 EPS for the current year.

Block Company Profile

Block (NYSE:XYZ) is a financial technology company that builds products and services to facilitate electronic payments, commerce, and consumer finance. Its principal business lines include a seller-focused ecosystem that provides point-of-sale hardware and software, payment processing, invoicing, payroll and lending services, and a consumer-facing platform that offers peer-to-peer payments, banking-like features, and investing. Block’s portfolio also encompasses music streaming and buy-now-pay-later capabilities through businesses acquired to broaden its reach beyond core payments.

The company was founded as Square in 2009 by Jack Dorsey and Jim McKelvey and later rebranded to Block to reflect a diversified set of businesses across payments, consumer finance, and emerging technologies.