Block, Inc. (NYSE:SQ) Receives $87.59 Average PT from Analysts

Block, Inc. (NYSE:SQGet Free Report) has been assigned an average rating of “Moderate Buy” from the thirty-four research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and twenty-seven have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $87.59.

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada upped their price objective on shares of Block from $77.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Citigroup upped their price objective on shares of Block from $86.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Robert W. Baird upped their price objective on shares of Block from $98.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Needham & Company LLC upped their price objective on shares of Block from $95.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Finally, Monness Crespi & Hardt reiterated a “neutral” rating on shares of Block in a report on Thursday, May 2nd.

Get Our Latest Analysis on SQ

Block Trading Down 1.0 %

Block stock opened at $61.89 on Wednesday. The company’s fifty day simple moving average is $69.55 and its 200-day simple moving average is $71.83. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.16. Block has a 12 month low of $38.85 and a 12 month high of $87.52. The stock has a market cap of $38.19 billion, a P/E ratio of 80.38, a P/E/G ratio of 1.45 and a beta of 2.54.

Block (NYSE:SQGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.15 by $0.32. Block had a net margin of 2.18% and a return on equity of 2.04%. The business had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $5.75 billion. As a group, sell-side analysts forecast that Block will post 1.28 EPS for the current fiscal year.

Insider Activity

In related news, CAO Ajmere Dale sold 500 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $84.75, for a total value of $42,375.00. Following the completion of the transaction, the chief accounting officer now owns 68,323 shares of the company’s stock, valued at $5,790,374.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Ajmere Dale sold 500 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $84.75, for a total value of $42,375.00. Following the completion of the transaction, the chief accounting officer now owns 68,323 shares of the company’s stock, valued at $5,790,374.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amrita Ahuja sold 6,788 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $71.26, for a total transaction of $483,712.88. Following the completion of the transaction, the chief financial officer now directly owns 282,886 shares of the company’s stock, valued at approximately $20,158,456.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 247,739 shares of company stock valued at $18,584,747. Insiders own 10.49% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Block in the fourth quarter worth $528,996,000. Baillie Gifford & Co. boosted its stake in Block by 3,525.7% in the fourth quarter. Baillie Gifford & Co. now owns 5,935,002 shares of the technology company’s stock worth $459,072,000 after purchasing an additional 5,771,310 shares in the last quarter. Lone Pine Capital LLC acquired a new position in Block in the third quarter worth $172,001,000. Trivest Advisors Ltd acquired a new position in Block in the fourth quarter worth $157,021,000. Finally, Vanguard Group Inc. boosted its stake in Block by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 36,192,701 shares of the technology company’s stock worth $2,799,505,000 after purchasing an additional 1,277,043 shares in the last quarter. Institutional investors and hedge funds own 70.44% of the company’s stock.

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.