Brokerages Set Block, Inc. (NYSE:SQ) PT at $87.59

Block, Inc. (NYSE:SQGet Free Report) has received an average recommendation of “Moderate Buy” from the thirty-four research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and twenty-seven have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $87.59.

A number of equities research analysts recently issued reports on SQ shares. Truist Financial increased their target price on shares of Block from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Robert W. Baird raised their target price on shares of Block from $98.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Evercore ISI reiterated an “in-line” rating and issued a $75.00 price objective on shares of Block in a report on Tuesday, March 26th. Canaccord Genuity Group reissued a “buy” rating and issued a $95.00 target price on shares of Block in a research note on Friday, May 3rd. Finally, Royal Bank of Canada boosted their price target on Block from $77.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd.

Check Out Our Latest Analysis on SQ

Insider Buying and Selling

In related news, insider Brian Grassadonia sold 113,668 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $67.56, for a total value of $7,679,410.08. Following the transaction, the insider now directly owns 603,861 shares in the company, valued at approximately $40,796,849.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Brian Grassadonia sold 113,668 shares of Block stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $67.56, for a total transaction of $7,679,410.08. Following the sale, the insider now directly owns 603,861 shares in the company, valued at approximately $40,796,849.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 completion of the sale, the chief financial officer now directly 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. Insiders have sold a total of 346,432 shares of company stock worth $26,390,936 in the last ninety days. Corporate insiders own 10.49% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SQ. Montag A & Associates Inc. lifted its position in Block by 843.2% in the 4th quarter. Montag A & Associates Inc. now owns 349 shares of the technology company’s stock worth $27,000 after buying an additional 312 shares during the last quarter. Riverview Trust Co bought a new stake in Block in the first quarter valued at approximately $28,000. Front Row Advisors LLC lifted its position in Block by 67,500.0% in the third quarter. Front Row Advisors LLC now owns 676 shares of the technology company’s stock valued at $30,000 after purchasing an additional 675 shares during the last quarter. Larson Financial Group LLC lifted its position in Block by 38.4% in the third quarter. Larson Financial Group LLC now owns 728 shares of the technology company’s stock valued at $32,000 after purchasing an additional 202 shares during the last quarter. Finally, Tidemark LLC bought a new stake in Block in the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Block Trading Down 5.8 %

Shares of SQ stock opened at $67.34 on Friday. Block has a 52-week low of $38.85 and a 52-week high of $87.52. The stock has a market cap of $41.55 billion, a price-to-earnings ratio of 87.46, a P/E/G ratio of 1.71 and a beta of 2.57. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.64 and a current ratio of 1.64. The firm has a fifty day moving average of $75.76 and a 200-day moving average of $70.76.

Block (NYSE:SQGet Free Report) last announced its quarterly earnings data 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. Block had a net margin of 2.18% and a return on equity of 2.04%. The company had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.69 billion. On average, equities research analysts forecast that Block will post 1.29 earnings per share for the current fiscal year.

About Block

(Get Free Report

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.

Featured Stories

Analyst Recommendations for Block (NYSE:SQ)

Receive News & Ratings for Block Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Block and related companies with MarketBeat.com's FREE daily email newsletter.