Block (NYSE:SQ) Given New $100.00 Price Target at Robert W. Baird

Block (NYSE:SQ) had its target price raised by Robert W. Baird from $98.00 to $100.00 in a report published on Friday, Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

SQ has been the subject of a number of other reports. Susquehanna reissued a positive rating and set a $100.00 target price on shares of Block in a research note on Monday, April 22nd. Piper Sandler restated an overweight rating and set a $88.00 price target (up from $86.00) on shares of Block in a report on Friday, February 23rd. Wolfe Research upped their price target on shares of Block from $95.00 to $100.00 and gave the stock an outperform rating in a research note on Thursday, April 11th. Canaccord Genuity Group upped their target price on Block from $80.00 to $95.00 and gave the stock a buy rating in a research report on Monday, February 26th. Finally, Morgan Stanley reaffirmed an underweight rating and set a $60.00 price objective (down previously from $62.00) on shares of Block in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $87.55.

Block Stock Up 5.8 %

NYSE SQ traded up $4.06 on Friday, reaching $73.53. The company had a trading volume of 11,553,092 shares, compared to its average volume of 10,201,752. The firm has a 50-day moving average of $77.63 and a 200-day moving average of $68.33. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market capitalization of $45.27 billion, a PE ratio of 94.08, a P/E/G ratio of 1.66 and a beta of 2.57. Block has a 1 year low of $38.85 and a 1 year high of $87.52.

Block (NYSE:SQ) last posted its quarterly earnings results on Thursday, February 22nd. The technology company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.69 billion. Block had a return on equity of 2.07% and a net margin of 2.18%. On average, equities research analysts anticipate that Block will post 1.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Ajmere Dale sold 500 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $84.75, for a total value of $42,375.00. Following the transaction, the chief accounting officer now owns 68,323 shares of the company’s stock, valued at approximately $5,790,374.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Block news, CAO Ajmere Dale sold 500 shares of Block stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $84.75, for a total transaction of $42,375.00. Following the sale, the chief accounting officer now directly owns 68,323 shares of the company’s stock, valued at approximately $5,790,374.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Amrita Ahuja sold 2,581 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $64.30, for a total value of $165,958.30. Following the completion of the transaction, the chief financial officer now directly owns 201,754 shares in the company, valued at $12,972,782.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 477,469 shares of company stock valued at $34,963,585. Company insiders own 10.79% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Montag A & Associates Inc. raised its holdings in shares of Block by 843.2% in the fourth 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 period. Riverview Trust Co purchased a new stake in Block in the 1st quarter valued at about $28,000. Front Row Advisors LLC boosted its stake in shares of Block by 67,500.0% during 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 in the last quarter. Larson Financial Group LLC boosted its position in Block by 38.4% during 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 in the last quarter. Finally, Tidemark LLC acquired a new position in Block during the 4th quarter valued at about $32,000. Institutional investors own 70.44% of the company’s stock.

Block Company Profile

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.