Robert W. Baird Cuts Block (NYSE:XYZ) Price Target to $80.00

Block (NYSE:XYZ) had its price target lowered by Robert W. Baird from $105.00 to $80.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

XYZ has been the topic of a number of other reports. Needham & Company LLC restated a “buy” rating and issued a $90.00 target price on shares of Block in a research note on Friday, February 21st. StockNews.com started coverage on Block in a report on Saturday, February 15th. They issued a “hold” rating for the company. Wells Fargo & Company raised their price target on Block from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. UBS Group lowered their price objective on shares of Block from $98.00 to $97.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Finally, Piper Sandler reduced their price target on shares of Block from $101.00 to $85.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Four research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.82.

Block Stock Performance

Shares of NYSE XYZ opened at $53.03 on Tuesday. Block has a fifty-two week low of $46.42 and a fifty-two week high of $99.26. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07. The stock has a market capitalization of $32.85 billion, a P/E ratio of 11.65, a price-to-earnings-growth ratio of 0.72 and a beta of 2.77. The business has a 50 day simple moving average of $65.04.

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

Insider Transactions at Block

In other news, 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 value of $27,240.00. Following the sale, the chief accounting officer now directly owns 81,999 shares of the company’s stock, valued at $4,467,305.52. The trade was a 0.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Owen Britton Jennings sold 1,263 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 181,904 shares in the company, valued at $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 a total of 19,324 shares of company stock valued at $1,297,662 in the last three months. 10.49% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Block

A number of large investors have recently made changes to their positions in the stock. Versant Capital Management Inc increased 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 during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Block by 48.2% in 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 lifted its holdings in shares of Block by 18.3% in the 4th quarter. Rosenberg Matthew Hamilton now owns 982 shares of the technology company’s stock worth $83,000 after acquiring an additional 152 shares during the last quarter. TD Private Client Wealth LLC boosted its position in shares of Block by 15.8% during the 3rd quarter. TD Private Client Wealth LLC now owns 2,066 shares of the technology company’s stock worth $139,000 after purchasing an additional 282 shares during the period. Finally, Ulland Investment Advisors LLC increased its holdings in Block by 92.3% in the 4th quarter. Ulland Investment Advisors LLC now owns 2,135 shares of the technology company’s stock valued at $181,000 after purchasing an additional 1,025 shares during the last quarter. 70.44% of the stock is currently owned by hedge funds and other 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.