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Block (SQ) Stock Price, News & Analysis

$83.25
+0.07 (+0.08%)
(As of 09:34 AM ET)
Today's Range
$83.20
$83.94
50-Day Range
$62.58
$85.71
52-Week Range
$38.85
$87.52
Volume
190,152 shs
Average Volume
10.73 million shs
Market Capitalization
$51.26 billion
P/E Ratio
492.94
Dividend Yield
N/A
Price Target
$83.69

Block MarketRank™ Stock Analysis

Analyst Rating
Moderate Buy
2.81 Rating Score
Upside/​Downside
0.6% Upside
$83.69 Price Target
Short Interest
Healthy
2.16% of Shares Sold Short
Dividend Strength
N/A
Sustainability
N/A
News Sentiment
0.11mentions of Block in the last 14 days
Based on 18 Articles This Week
Insider Trading
Selling Shares
$18.41 M Sold Last Quarter
Proj. Earnings Growth
91.26%
From $1.03 to $1.97 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

3.26 out of 5 stars

Business Services Sector

107th out of 311 stocks

Prepackaged Software Industry

84th out of 198 stocks

SQ stock logo

About Block Stock (NYSE:SQ)

Block, Inc. is the parent company to a host of digital financial solutions including Square. The company was founded in 2009 by Jack Dorsey (also founded Twitter) and Jim McKelvey as a solution to a problem faced by McKelvey. Mr. McKelvey was unable to complete a transaction because he was unable to accept credit cards and that provided inspiration for Mr. Dorsey. The firm was founded in St. Louis but now has no official headquarters, instead choosing to do most work remotely or from one of several key hubs. That decision was made in the wake of the COVID-19 pandemic when it became clear telecommuting was a solution that worked.

The original Square app provides a multitude of payment and POS solutions that include hardware and software. The hardware includes the iconic Square card mag-stripe reader that can be plugged into any tablet or smartphone as well as many other solutions. The software enables sellers to turn their smart devices into POS on a temporary or permanent/dedicated basis.

The company went public in 2015 when it IPOd on the NASDAQ stock exchange and then later decided to change its name to Block to better represent the business. Today, Block, Inc. operates as a network of businesses that are working together to expand access to the economy. The core brands are Square, CashApp, AfterPay, Weebly, Tidal, Spiral, and TBD.

The Square brand encompasses all the core business including but not limited to hardware and its related software. The CashApp business is a money transfer solution that is working to make money more available and universally acceptable. Afterpay is a buy-now-pay-later service. Weebly is an eCommerce and web hosting service for small and medium-sized businesses. Tidal is a platform for musicians and artists to connect with fans and monetize their brands. Spiral is the firm's cryptocurrency division and TBD is a division focused on crypto, specifically building a crypto platform.

Block, Inc. stunned the market in 2020 when it began to purchase Bitcoin. Then Square, the company purchased Bitcoin in two transactions for a total of $210 million. The holdings amount to 8,027 Bitcoins which were worth $154.75 million in October 2022. The purpose of Spiral is to fund open-sourced applications that encourage and facilitate the use of Bitcoin and other cryptocurrencies.

Mr. Dorsey remains the CEO and chairman of Block, Inc. The company employs more than 8,500 individuals across its footprint and netted $17.66 billion in revenue for 2021. Mr. Dorsey is also the company’s largest shareholder with about 10% of the shares.



SQ Stock Price History

SQ Stock News Headlines

Block Stock Just Hit the Recovery Rally Button
Having traded mostly sideways since January, Block, Inc. NYSE: SQ shares are again on the move. They'd performed strongly all through the final two months of last year when, like with almost all equities, they took off on the back of cooling inflation data and hopes of an imminent rate cut.
Major Elon Musk Crypto Leak Revealed
Reports of a leaked meeting between Elon Musk and staff at X.com could send shockwaves through the crypto market. Musk revealed a "mind-blowing" plan to take over the global payment system. In his own words, the world's richest man said "you won't need a bank account." Prominent voices in crypto believe what comes next will mirror a crypto mass adoption similar to the one that triggered bitcoin's last bull run.
Block Stock Just Hit the Recovery Rally Button
Having traded mostly sideways since January, Block, Inc. NYSE: SQ shares are again on the move. They'd performed strongly all through the final two months of last year when, like with almost all equities, they took off on the back of cooling inflation data and hopes of an imminent rate cut.
Block (NYSE:SQ) Given New $95.00 Price Target at KeyCorp
Block (NYSE:SQ) Given "Buy" Rating at Mizuho
SHOCKING Crypto Leak…
A shocking leak has revealed tech giant Microsoft's plans to add crypto support to future products. If the plans in these leaked internal documents pan out, we could see prices skyrocket for Bitcoin, Ethereum, XRP and MORE… The coupling of gaming and cryptocurrency could absolutely transform digital finance as we know it in 2024.
Block (NYSE:SQ) Receives In-Line Rating from Evercore ISI
Where Will Block Be in 1 Year?
Block (NYSE:SQ) Stock Price Down 3.2%
3 Tech Stocks to Buy Beyond the Mega-Cap Heavyweights
Block Stock: Buy, Sell, or Hold?
Is Block Stock a Buy?
See More Headlines
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Company Calendar

Last Earnings
2/22/2024
Today
3/28/2024
Next Earnings (Estimated)
5/02/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Industry
Prepackaged software
Sub-Industry
N/A
Fax
N/A
Employees
12,985
Year Founded
2009

Price Target and Rating

Average Stock Price Target
$83.69
High Stock Price Target
$100.00
Low Stock Price Target
$46.00
Potential Upside/Downside
+0.6%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.81
Research Coverage
32 Analysts

Profitability

Net Income
$9.77 million
Pretax Margin
-0.13%

Debt

Sales & Book Value

Annual Sales
$21.92 billion
Book Value
$30.35 per share

Miscellaneous

Free Float
549,260,000
Market Cap
$51.21 billion
Optionable
Optionable
Beta
2.55

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Should I Buy Block Stock? SQ Pros and Cons Explained

These insights were generated using artificial intelligence. They are based on proprietary MarketBeat data, news articles, and custom LLM A.I. algorithms. This analysis of Block was last updated on Monday, March 25, 2024 at 11:50 PM.

Pros

Here are some ways that investors could benefit from investing in Block, Inc.:

  • Block, Inc. has shown consistent growth in institutional investments, indicating confidence from major financial entities.
  • Recent insider transactions, such as the sale of shares by CAO Ajmere Dale, can provide insights into the company's performance and future prospects.
  • Block, Inc. has a strong market capitalization of $48.79 billion, reflecting its position and stability in the market.
  • The company's stock price has been on an upward trend, with a 12-month high of $83.29, showing potential for capital appreciation.
  • Block, Inc. operates in the technology sector, which is known for innovation and growth opportunities, attracting investors seeking high returns.

Cons

Investors should be bearish about investing in Block, Inc. for these reasons:

  • Envestnet Asset Management Inc. significantly reduced its holdings in Block, Inc. by 61.0% in the third quarter, indicating a lack of confidence from some institutional investors.
  • The company's P/E ratio of 466.18 may suggest overvaluation compared to industry peers, potentially posing a risk for investors.
  • Block, Inc. has a beta of 2.54, indicating higher volatility compared to the market average, which may lead to increased risk for investors.
  • While the company has a strong market capitalization, a high debt-to-equity ratio of 0.22 could raise concerns about financial leverage and stability.
  • Geode Capital Management LLC increased its stake in Block, Inc. by 30.4% in the second quarter, which could signal a crowded trade and potential market saturation.

SQ Stock Analysis - Frequently Asked Questions

Should I buy or sell Block stock right now?

32 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Block in the last twelve months. There are currently 6 hold ratings and 26 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" SQ shares.
View SQ analyst ratings
or view top-rated stocks.

What is Block's stock price target for 2024?

32 Wall Street analysts have issued twelve-month price targets for Block's shares. Their SQ share price targets range from $46.00 to $100.00. On average, they predict the company's share price to reach $83.69 in the next year. This suggests a possible upside of 0.6% from the stock's current price.
View analysts price targets for SQ
or view top-rated stocks among Wall Street analysts.

How have SQ shares performed in 2024?

Block's stock was trading at $77.35 on January 1st, 2024. Since then, SQ stock has increased by 7.5% and is now trading at $83.18.
View the best growth stocks for 2024 here
.

When is Block's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, May 2nd 2024.
View our SQ earnings forecast
.

How were Block's earnings last quarter?

Block, Inc. (NYSE:SQ) announced its quarterly earnings data on Thursday, February, 22nd. The technology company reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.01. The technology company earned $5.77 billion during the quarter, compared to analyst estimates of $5.69 billion. Block had a net margin of 0.04% and a trailing twelve-month return on equity of 0.63%.

What is Jack Dorsey's approval rating as Block's CEO?

436 employees have rated Block Chief Executive Officer Jack Dorsey on Glassdoor.com. Jack Dorsey has an approval rating of 89% among the company's employees.

What other stocks do shareholders of Block own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Block investors own include NVIDIA (NVDA), Tesla (TSLA), Alibaba Group (BABA), Advanced Micro Devices (AMD), PayPal (PYPL), Netflix (NFLX), Micron Technology (MU), Salesforce (CRM), Walt Disney (DIS) and Shopify (SHOP).

When did Block IPO?

Block (SQ) raised $324 million in an initial public offering (IPO) on Thursday, November 19th 2015. The company issued 27,000,000 shares at a price of $11.00-$13.00 per share. Goldman Sachs, Morgan Stanley and J.P. Morgan served as the underwriters for the IPO and Barclays, Deutsche Bank Securities, Jefferies, RBC Capital Markets, Stifel, LOYAL3 Securities and SMBC Nikko were co-managers.

Who are Block's major shareholders?

Block's stock is owned by a number of institutional and retail investors. Top institutional shareholders include Vanguard Group Inc. (5.89%), Vanguard Group Inc. (5.88%), Sands Capital Management LLC (2.24%), Capital World Investors (2.04%), ARK Investment Management LLC (1.94%) and Sumitomo Mitsui Trust Holdings Inc. (1.69%). Insiders that own company stock include Ajmere Dale, Alyssa Henry, Amrita Ahuja, Brian Grassadonia, Chrysty Esperanza, Ernest C Garcia II, Jack Dorsey, James Morgan Jr Mckelvey, Lawrence Henry Summers, Mohan Maheswaran, Roelof Botha and Sivan Whiteley.
View institutional ownership trends
.

How do I buy shares of Block?

Shares of SQ stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NYSE:SQ) was last updated on 3/28/2024 by MarketBeat.com Staff

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