Block (NYSE:XYZ) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Block (NYSE:XYZ) from a hold rating to a sell rating in a research note released on Friday.

Several other analysts also recently weighed in on the stock. Stephens restated an “overweight” rating and set a $75.00 price objective on shares of Block in a research report on Friday, May 2nd. Morgan Stanley upgraded shares of Block from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $65.00 to $67.00 in a research report on Thursday, April 3rd. Canaccord Genuity Group reduced their price target on shares of Block from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Benchmark downgraded shares of Block from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. Finally, Robert W. Baird reduced their price target on shares of Block from $105.00 to $80.00 and set an “outperform” rating for the company in a research report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $75.66.

Block Stock Up 2.3%

Shares of Block stock opened at $65.04 on Friday. Block has a 52-week low of $44.27 and a 52-week high of $99.26. The business has a 50 day moving average price of $56.03. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $40.00 billion, a P/E ratio of 14.29, a P/E/G ratio of 0.72 and a beta of 2.75.

Insider Buying and Selling at Block

In other Block news, insider Dhananjay Prasanna sold 11,318 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $61.41, for a total value of $695,038.38. Following the transaction, the insider now directly owns 318,751 shares in the company, valued at approximately $19,574,498.91. This represents a 3.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Owen Britton Jennings sold 3,580 shares of the company’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $55.92, for a total transaction of $200,193.60. Following the completion of the transaction, the insider now owns 281,159 shares in the company, valued at approximately $15,722,411.28. This trade represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,926 shares of company stock worth $3,547,136. Corporate insiders own 10.85% 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.