Block (NYSE:XYZ) Stock Price Target Raised at Freedom Broker

Block (NYSE:XYZ) had its price target raised by Freedom Broker from $105.00 to $115.00 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other analysts have also recently commented on XYZ. JPMorgan Chase & Co. boosted their target price on shares of Block from $100.00 to $110.00 in a report on Thursday, August 6th. Royal Bank Of Canada raised their target price on Block from $95.00 to $103.00 and gave the stock an “outperform” rating in a report on Wednesday, November 4th. BMO Capital Markets restated a “hold” rating on shares of Block in a research note on Tuesday, November 3rd. Citizens Jmp began coverage on Block in a research report on Wednesday, November 4th. They set a “hold” rating for the company. Finally, Robert W. Baird upped their price objective on Block from $105.00 to $106.00 and gave the company an “outperform” rating in a research report on Friday, October 2nd. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $100.67.

Block Stock Performance

Block stock traded up $2.17 during mid-day trading on Friday, reaching $84.43. The company’s stock had a trading volume of 4,455,475 shares, compared to its average volume of 6,179,822. The firm’s fifty day moving average price is $78.26 and its two-hundred day moving average price is $72.00. The company has a market capitalization of $50.73 billion, a P/E ratio of 114.10, a PEG ratio of 0.81 and a beta of 2.58. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.23 and a current ratio of 2.23. Block has a 12-month low of $48.21 and a 12-month high of $89.39.

Block (NYSE:XYZ) last announced its quarterly earnings results on Tuesday, November 3rd. The technology company reported $1.13 EPS for the quarter, beating the consensus estimate of $0.68 by $0.45. The firm had revenue of $6.72 billion during the quarter. Block had a net margin of 1.80% and a return on equity of 9.63%. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.54 earnings per share. Sell-side analysts predict that Block will post 2.86 EPS for the current fiscal year.

Insider Transactions at Block

In related news, Director Anthony Eisen sold 100,000 shares of the company’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $89.00, for a total transaction of $8,900,000.00. Following the completion of the sale, the director owned 1,077,672 shares of the company’s stock, valued at approximately $95,912,808. This represents a 8.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 343,686 shares of company stock worth $28,384,547. Insiders own 11.37% of the company’s stock.

Institutional Trading of Block

Institutional investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp bought a new position in Block in the second quarter worth approximately $366,000. Nilsine Partners LLC lifted its position in Block by 295.4% during the 2nd quarter. Nilsine Partners LLC now owns 25,999 shares of the technology company’s stock worth $1,976,000 after acquiring an additional 19,423 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Block by 35.7% in the first quarter. PNC Financial Services Group Inc. now owns 69,637 shares of the technology company’s stock worth $4,191,000 after acquiring an additional 18,326 shares during the period. Nykredit A S acquired a new stake in Block during the second quarter worth about $13,291,000. Finally, Swiss National Bank increased its holdings in Block by 6.7% in the first quarter. Swiss National Bank now owns 1,607,286 shares of the technology company’s stock valued at $96,726,000 after buying an additional 101,300 shares in the last quarter. Institutional investors and hedge funds own 70.44% of the company’s stock.

Block Company Profile

Block, Inc. is a financial technology company that provides payment and commerce tools to businesses and financial services for consumers. Its products include Square, a platform offering payment processing, point-of-sale software and related business services, and Cash App, which provides person-to-person payments and other financial features. The company also owns Afterpay, a buy-now, pay-later service, and TIDAL, a music and entertainment platform. Block serves businesses and consumers in the United States and other markets, with product availability varying by country.