Block (NYSE:SQ) Stock Rating Upgraded by Oppenheimer

Oppenheimer upgraded shares of Block (NYSE:SQ) from a market perform rating to an outperform rating in a research report report published on Thursday morning, MarketBeat reports. They currently have $115.00 price objective on the technology company’s stock.

A number of other analysts have also issued reports on the company. UBS Group lowered their price target on Block from $100.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. BNP Paribas lowered shares of Block from an “outperform” rating to a “neutral” rating and set a $88.00 target price for the company. in a report on Wednesday, November 20th. Sanford C. Bernstein boosted their price target on shares of Block from $90.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. BMO Capital Markets downgraded shares of Block from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $94.00 to $100.00 in a report on Monday, November 25th. Finally, Macquarie raised their target price on shares of Block from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat.com, Block has an average rating of “Moderate Buy” and an average price target of $96.33.

Block Trading Up 0.4 %

SQ stock opened at $87.64 on Thursday. Block has a 12-month low of $55.00 and a 12-month high of $99.26. The business’s 50-day moving average is $83.61 and its 200 day moving average is $71.22. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. The stock has a market cap of $54.32 billion, a price-to-earnings ratio of 49.24, a PEG ratio of 1.23 and a beta of 2.50.

Insider Activity at Block

In other Block news, insider Brian Grassadonia sold 1,884 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $65.41, for a total value of $123,232.44. Following the completion of the transaction, the insider now owns 574,914 shares in the company, valued at $37,605,124.74. The trade was a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Chrysty Esperanza sold 2,865 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $95.00, for a total value of $272,175.00. Following the completion of the sale, the insider now owns 85,235 shares in the company, valued at approximately $8,097,325. The trade was a 3.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,918 shares of company stock worth $2,666,147 in the last three months. 10.49% of the stock is owned by company insiders.

Institutional Trading of Block

A number of large investors have recently made changes to their positions in SQ. SouthState Corp lifted its holdings in Block by 85.3% during the 3rd quarter. SouthState Corp now owns 391 shares of the technology company’s stock worth $26,000 after buying an additional 180 shares during the last quarter. True Wealth Design LLC lifted its position in Block by 64.7% in the third quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock valued at $33,000 after acquiring an additional 194 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Block in the second quarter valued at $44,000. V Square Quantitative Management LLC acquired a new position in Block in the third quarter valued at $46,000. Finally, LRI Investments LLC grew its holdings in shares of Block by 85.3% during the second quarter. LRI Investments LLC now owns 741 shares of the technology company’s stock worth $48,000 after purchasing an additional 341 shares during the last quarter. 70.44% of the stock is currently owned by hedge funds and other institutional investors.

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.