Block, Inc. (NYSE:XYZ) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Block, Inc. (NYSE:XYZ) have earned an average rating of “Moderate Buy” from the thirty-six brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-three have issued a buy rating and three have given a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $82.4848.

XYZ has been the topic of a number of analyst reports. Compass Point raised Block from a “strong sell” rating to a “hold” rating in a research report on Friday, November 21st. Cantor Fitzgerald raised shares of Block to a “strong-buy” rating in a report on Tuesday, January 27th. Piper Sandler dropped their price target on shares of Block from $55.00 to $51.00 and set an “underweight” rating for the company in a research report on Wednesday, January 14th. Truist Financial set a $72.00 price objective on shares of Block in a research report on Tuesday, January 20th. Finally, Zacks Research downgraded shares of Block from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th.

Insider Activity at Block

In other Block news, insider Chrysty Esperanza sold 3,608 shares of Block stock in a transaction on Friday, November 21st. The shares were sold at an average price of $61.40, for a total value of $221,531.20. Following the sale, the insider directly owned 123,198 shares in the company, valued at approximately $7,564,357.20. The trade was a 2.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brian Grassadonia sold 8,085 shares of the stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $61.96, for a total transaction of $500,946.60. Following the transaction, the insider directly owned 521,352 shares of the company’s stock, valued at $32,302,969.92. This trade represents a 1.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 54,796 shares of company stock valued at $3,395,943 in the last ninety days. Corporate insiders own 10.85% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in XYZ. Howard Capital Management Inc. grew its holdings in Block by 3.2% during the 3rd quarter. Howard Capital Management Inc. now owns 4,439 shares of the technology company’s stock valued at $321,000 after purchasing an additional 138 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Block by 23.1% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 853 shares of the technology company’s stock worth $66,000 after purchasing an additional 160 shares during the last quarter. Sound Income Strategies LLC boosted its position in shares of Block by 57.1% during the fourth quarter. Sound Income Strategies LLC now owns 443 shares of the technology company’s stock valued at $29,000 after buying an additional 161 shares during the period. Jones Financial Companies Lllp grew its position in Block by 0.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 21,183 shares of the technology company’s stock valued at $1,561,000 after acquiring an additional 167 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Block by 33.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 707 shares of the technology company’s stock valued at $46,000 after purchasing an additional 179 shares during the period. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Block Price Performance

Shares of NYSE:XYZ opened at $56.09 on Monday. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $34.08 billion, a PE ratio of 11.31, a price-to-earnings-growth ratio of 1.09 and a beta of 2.67. The firm’s 50 day moving average price is $64.19 and its 200-day moving average price is $70.71. Block has a twelve month low of $44.27 and a twelve month high of $88.73.

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

About Block

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.