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Block, Inc. (NYSE:SQ - Get Rating) has earned an average rating of "Moderate Buy" from the forty-four ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and twenty-three have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $152.34.
A number of analysts have recently issued reports on SQ shares. Morgan Stanley reduced their target price on Block from $118.00 to $110.00 and set an "equal weight" rating for the company in a report on Thursday, May 19th. JPMorgan Chase & Co. dropped their price target on shares of Block from $150.00 to $107.00 in a research note on Wednesday, July 20th. Citigroup dropped their price target on shares of Block from $185.00 to $135.00 in a research note on Tuesday, July 26th. Credit Suisse Group dropped their price target on shares of Block from $180.00 to $170.00 and set an "outperform" rating on the stock in a research note on Wednesday, June 15th. Finally, Moffett Nathanson dropped their price target on shares of Block from $200.00 to $170.00 in a research note on Friday, May 6th.Block Price Performance
Shares of NYSE:SQ opened at $72.62 on Thursday. Block has a one year low of $56.01 and a one year high of $276.14. The stock has a fifty day moving average of $72.08 and a 200-day moving average of $93.70. The company has a market capitalization of $42.12 billion, a PE ratio of -79.80 and a beta of 2.45. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.80 and a current ratio of 1.80.
Block (NYSE:SQ - Get Rating) last announced its quarterly earnings data on Thursday, August 4th. The technology company reported $0.18 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.01. The company had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.33 billion. Block had a negative return on equity of 2.52% and a negative net margin of 3.00%. The company's quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.38 EPS. As a group, equities analysts anticipate that Block will post -0.72 EPS for the current fiscal year. Insider Transactions at Block
In other news, insider Alyssa Henry sold 30,770 shares of the firm's stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $62.60, for a total transaction of $1,926,202.00. Following the completion of the sale, the insider now owns 433,543 shares of the company's stock, valued at $27,139,791.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CAO Ajmere Dale sold 883 shares of the firm's stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $62.63, for a total value of $55,302.29. Following the completion of the sale, the chief accounting officer now owns 48,797 shares of the company's stock, valued at $3,056,156.11. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Alyssa Henry sold 30,770 shares of the firm's stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $62.60, for a total transaction of $1,926,202.00. Following the completion of the sale, the insider now directly owns 433,543 shares of the company's stock, valued at approximately $27,139,791.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 330,044 shares of company stock valued at $23,983,481. Corporate insiders own 11.52% of the company's stock. Institutional Trading of Block
A number of institutional investors have recently bought and sold shares of the business. Prelude Capital Management LLC grew its holdings in Block by 1,646.0% during the 2nd quarter. Prelude Capital Management LLC now owns 14,254 shares of the technology company's stock worth $876,000 after acquiring an additional 15,176 shares during the period. Stock Yards Bank & Trust Co. bought a new position in shares of Block during the second quarter worth $206,000. Captrust Financial Advisors boosted its position in shares of Block by 6.0% during the second quarter. Captrust Financial Advisors now owns 21,190 shares of the technology company's stock worth $1,302,000 after purchasing an additional 1,201 shares in the last quarter. SRS Capital Advisors Inc. boosted its position in shares of Block by 3,213.8% during the second quarter. SRS Capital Advisors Inc. now owns 961 shares of the technology company's stock worth $59,000 after purchasing an additional 932 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Block by 9.2% during the second quarter. Legal & General Group Plc now owns 2,870,448 shares of the technology company's stock worth $176,418,000 after purchasing an additional 240,666 shares in the last quarter. Institutional investors and hedge funds own 54.56% of the company's stock. About Block (Get Rating)
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 ReadingGet a free copy of the StockNews.com research report on Block (SQ)3 Payroll Software Makers Set For Growth In 2023PENN Entertainment Stock is Reset and Ready to ReboundNYSE Stocks Give Investors a Variety of Quality Options Zoom Video Communications Valuation Is Realigned With Reality The J.M. Smucker Company Proves Why Staples Are Outperforming
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