Block (NYSE:SQ) Given New $100.00 Price Target at Wolfe Research

Block (NYSE:SQFree Report) had its price target upped by Wolfe Research from $95.00 to $100.00 in a research note issued to investors on Thursday morning, Benzinga reports. Wolfe Research currently has an outperform rating on the technology company’s stock.

SQ has been the topic of a number of other reports. Canaccord Genuity Group raised their price objective on shares of Block from $80.00 to $95.00 and gave the company a buy rating in a research note on Monday, February 26th. Morgan Stanley reiterated an underweight rating and issued a $60.00 price objective (down previously from $62.00) on shares of Block in a report on Thursday, April 4th. Royal Bank of Canada raised their target price on Block from $77.00 to $88.00 and gave the stock an outperform rating in a report on Friday, February 23rd. KeyCorp upped their price target on Block from $80.00 to $95.00 and gave the company an overweight rating in a research note on Wednesday, March 27th. Finally, Monness Crespi & Hardt increased their price target on shares of Block from $85.00 to $100.00 and gave the company a buy rating in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $84.41.

Read Our Latest Research Report on SQ

Block Trading Up 1.9 %

Shares of SQ opened at $80.00 on Thursday. The stock’s fifty day simple moving average is $76.05 and its 200-day simple moving average is $64.84. The firm has a market capitalization of $49.26 billion, a PE ratio of 461.82, a price-to-earnings-growth ratio of 2.32 and a beta of 2.55. Block has a 12-month low of $38.85 and a 12-month high of $87.52. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.22.

Block (NYSE:SQGet Free Report) last released its earnings results on Thursday, February 22nd. The technology company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The company had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.69 billion. Block had a net margin of 0.04% and a return on equity of 0.63%. As a group, research analysts predict that Block will post 1.03 earnings per share for the current year.

Insider Buying and Selling

In other Block news, CFO Amrita Ahuja sold 4,170 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $78.84, for a total transaction of $328,762.80. Following the transaction, the chief financial officer now owns 193,192 shares of the company’s stock, valued at approximately $15,231,257.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Brian Grassadonia sold 127,800 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $65.45, for a total value of $8,364,510.00. Following the sale, the insider now directly owns 405,224 shares of the company’s stock, valued at approximately $26,521,910.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Amrita Ahuja sold 4,170 shares of Block stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $78.84, for a total value of $328,762.80. Following the transaction, the chief financial officer now owns 193,192 shares of the company’s stock, valued at approximately $15,231,257.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 363,801 shares of company stock worth $27,284,175. Corporate insiders own 10.79% of the company’s stock.

Institutional Trading of Block

Several institutional investors and hedge funds have recently bought and sold shares of the business. Clearbridge Investments LLC lifted its holdings in Block by 10.4% during the 3rd quarter. Clearbridge Investments LLC now owns 1,222,600 shares of the technology company’s stock valued at $54,112,000 after purchasing an additional 115,132 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its holdings in shares of Block by 1.5% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 261,300 shares of the technology company’s stock worth $11,565,000 after buying an additional 3,900 shares during the period. IFG Advisory LLC acquired a new position in Block in the 4th quarter valued at about $213,000. Canada Pension Plan Investment Board raised its holdings in Block by 16.1% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,373,857 shares of the technology company’s stock valued at $60,807,000 after acquiring an additional 190,400 shares during the period. Finally, CenterBook Partners LP acquired a new stake in Block during the third quarter worth approximately $359,000. Institutional investors own 70.44% of the company’s stock.

About Block

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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.

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