Block, Inc. (NYSE:SQ) Receives Consensus Rating of “Moderate Buy” from Brokerages

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

Several equities research analysts have issued reports on the stock. Citigroup boosted their price target on shares of Block from $86.00 to $90.00 and gave the company a “buy” rating in a report on Monday, May 6th. KeyCorp boosted their price target on shares of Block from $80.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Canaccord Genuity Group reissued a “buy” rating and issued a $95.00 price target on shares of Block in a report on Friday, May 3rd. Susquehanna reissued a “positive” rating and issued a $100.00 price target on shares of Block in a report on Wednesday, June 26th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $80.00 price target on shares of Block in a report on Monday, June 24th.

Read Our Latest Stock Analysis on SQ

Block Price Performance

Shares of Block stock 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 firm has a fifty day simple moving average of $66.83 and a 200-day simple moving average of $71.23. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.16.

Block (NYSE:SQGet Free Report) last released its 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. 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, sell-side analysts expect that Block will post 1.28 earnings per share for the current year.

Insider Activity at Block

In related news, CAO Ajmere Dale sold 1,278 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $71.26, for a total transaction of $91,070.28. Following the completion of the sale, the chief accounting officer now directly owns 93,337 shares of the company’s stock, valued at approximately $6,651,194.62. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO Ajmere Dale sold 1,278 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $71.26, for a total transaction of $91,070.28. Following the completion of the sale, the chief accounting officer now directly owns 93,337 shares of the company’s stock, valued at approximately $6,651,194.62. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brian Grassadonia sold 113,668 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $67.56, for a total value of $7,679,410.08. Following the sale, the insider now directly owns 603,861 shares of the company’s stock, valued at $40,796,849.16. The disclosure for this sale can be found here. Insiders have sold 134,526 shares of company stock worth $9,111,866 in the last ninety days. Company insiders own 10.49% of the company’s stock.

Hedge Funds Weigh In On Block

Several hedge funds have recently made changes to their positions in the business. Riverview Trust Co acquired a new position in Block during the first quarter worth $28,000. Montag A & Associates Inc. increased its holdings in Block by 843.2% during 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 last quarter. YHB Investment Advisors Inc. acquired a new position in Block during the first quarter worth $33,000. LRI Investments LLC acquired a new position in Block during the first quarter worth $34,000. Finally, Tidemark LLC acquired a new position in Block during the fourth quarter worth $32,000. 70.44% of the stock is owned by institutional investors.

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.

Further Reading

Analyst Recommendations for Block (NYSE:SQ)

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