Piper Sandler Remains a Sell on Block (XYZ)
In a report released today, Patrick Moley from Piper Sandler reiterated a Sell rating on Block, with a price target of $51.00.
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Moley covers the Financial sector, focusing on stocks such as Coinbase Global, Robinhood, and BGC Group. According to TipRanks, Moley has an average return of 29.8% and a 69.00% success rate on recommended stocks.
Currently, the analyst consensus on Block is a Strong Buy with an average price target of $86.65.
Based on Block’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $6.25 billion and a net profit of $114.34 million. In comparison, last year the company earned a revenue of $6.03 billion and had a net profit of $1.95 billion
Based on the recent corporate insider activity of 118 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of XYZ in relation to earlier this year. Last month, Ajmere Dale, the CAO of XYZ sold 423.00 shares for a total of $27,063.54.
Read More on XYZ:
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