UBS Group Lowers Block (NYSE:XYZ) Price Target to $97.00

Block (NYSE:XYZ) had its price objective trimmed by UBS Group from $98.00 to $97.00 in a research report report published on Friday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other analysts have also recently weighed in on XYZ. The Goldman Sachs Group decreased their price objective on shares of Block from $109.00 to $94.00 and set a “buy” rating on the stock in a research note on Friday. William Blair reaffirmed an “outperform” rating on shares of Block in a research note on Friday, November 15th. Sanford C. Bernstein upped their price objective on shares of Block from $90.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. BNP Paribas cut shares of Block from an “outperform” rating to a “neutral” rating and set a $88.00 price objective on the stock. in a research note on Wednesday, November 20th. Finally, Morgan Stanley upped their price objective on shares of Block from $60.00 to $65.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.23.

Block Price Performance

NYSE XYZ opened at $68.34 on Friday. The stock has a market capitalization of $42.36 billion, a P/E ratio of 38.39, a price-to-earnings-growth ratio of 0.73 and a beta of 2.52. Block has a twelve month low of $55.00 and a twelve month high of $99.26. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26.

Block (NYSE:XYZ) last posted 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 the consensus estimate of $6.23 billion. Block had a net margin of 4.73% and a return on equity of 5.24%. On average, equities research analysts forecast that Block will post 1.72 EPS for the current year.

Insiders Place Their Bets

In other Block news, CFO Amrita Ahuja sold 1,502 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $86.52, for a total value of $129,953.04. Following the sale, the chief financial officer now directly owns 242,199 shares in the company, valued at approximately $20,955,057.48. This trade represents a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Ajmere Dale sold 2,044 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $86.72, for a total transaction of $177,255.68. Following the completion of the sale, the chief accounting officer now owns 83,966 shares in the company, valued at approximately $7,281,531.52. This trade represents a 2.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,247 shares of company stock worth $832,865. Company insiders own 10.49% of the company’s stock.

Institutional Investors Weigh In On Block

Large investors have recently made changes to their positions in the stock. SouthState Corp increased its position in shares of Block by 85.3% during the third quarter. SouthState Corp now owns 391 shares of the technology company’s stock worth $26,000 after acquiring an additional 180 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Block by 67.7% during the fourth quarter. Versant Capital Management Inc now owns 394 shares of the technology company’s stock worth $33,000 after acquiring an additional 159 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of Block by 48.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 418 shares of the technology company’s stock worth $36,000 after acquiring an additional 136 shares in the last quarter. True Wealth Design LLC increased its position in shares of Block by 64.7% during the third quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock worth $33,000 after acquiring an additional 194 shares in the last quarter. Finally, Rosenberg Matthew Hamilton increased its position in shares of Block by 18.3% during the fourth quarter. Rosenberg Matthew Hamilton now owns 982 shares of the technology company’s stock worth $83,000 after acquiring an additional 152 shares in the last quarter. Institutional investors own 70.44% 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.