Block, Inc. (NYSE:SQ) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Block, Inc. (NYSE:SQGet Free Report) has received a consensus recommendation of “Moderate Buy” from the thirty-four analysts that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-seven have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $87.13.

A number of analysts recently weighed in on SQ shares. Canaccord Genuity Group restated a “buy” rating and set a $95.00 target price on shares of Block in a report on Friday, May 3rd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Block in a research note on Monday, June 24th. Evercore ISI reaffirmed an “in-line” rating and issued a $75.00 price objective on shares of Block in a research note on Tuesday, March 26th. Robert W. Baird raised their price objective on shares of Block from $98.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $90.00 price objective on shares of Block in a research note on Friday, May 3rd.

Get Our Latest Research Report on Block

Insider Activity at Block

In related news, insider Brian Grassadonia sold 5,155 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $71.26, for a total value of $367,345.30. Following the transaction, the insider now directly owns 599,150 shares in the company, valued at approximately $42,695,429. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Block news, CAO Ajmere Dale sold 471 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $64.37, for a total value of $30,318.27. Following the sale, the chief accounting officer now directly owns 92,866 shares in the company, valued at approximately $5,977,784.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian Grassadonia sold 5,155 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $71.26, for a total transaction of $367,345.30. Following the completion of the sale, the insider now owns 599,150 shares in the company, valued at $42,695,429. The disclosure for this sale can be found here. In the last three months, insiders have sold 134,526 shares of company stock worth $9,111,866. 10.49% of the stock is owned by insiders.

Institutional Trading of Block

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. DNB Asset Management AS lifted its holdings in Block by 6.4% during the 2nd quarter. DNB Asset Management AS now owns 88,960 shares of the technology company’s stock valued at $5,737,000 after purchasing an additional 5,336 shares during the last quarter. Bank of New Hampshire lifted its holdings in Block by 3.8% during the 2nd quarter. Bank of New Hampshire now owns 17,394 shares of the technology company’s stock valued at $1,122,000 after purchasing an additional 635 shares during the last quarter. Bright Futures Wealth Management LLC. bought a new position in Block during the 1st quarter valued at about $416,000. DekaBank Deutsche Girozentrale lifted its holdings in Block by 303.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 541,589 shares of the technology company’s stock valued at $45,333,000 after purchasing an additional 407,333 shares during the last quarter. Finally, Cetera Advisors LLC lifted its holdings in Block by 100.9% during the 1st quarter. Cetera Advisors LLC now owns 32,843 shares of the technology company’s stock valued at $2,778,000 after purchasing an additional 16,492 shares during the last quarter. 70.44% of the stock is currently owned by institutional investors and hedge funds.

Block Trading Up 2.1 %

Shares of NYSE:SQ opened at $65.78 on Friday. The stock has a market capitalization of $40.59 billion, a price-to-earnings ratio of 85.43, a PEG ratio of 1.51 and a beta of 2.52. Block has a 1-year low of $38.85 and a 1-year high of $87.52. 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 company has a 50 day moving average price of $66.83 and a 200 day moving average price of $71.23.

Block (NYSE:SQGet Free Report) last issued its earnings results on Thursday, May 2nd. The technology company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.32. The firm had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $5.75 billion. Block had a net margin of 2.18% and a return on equity of 2.04%. On average, research analysts anticipate that Block will post 1.28 EPS for the current fiscal year.

Block Company Profile

(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.

Recommended 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.