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

Shares of Block, Inc. (NYSE:SQGet Rating) have received a consensus recommendation of “Moderate Buy” from the forty-four ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have given a hold recommendation and twenty-two have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $143.02.

SQ has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Block from $180.00 to $155.00 in a research report on Monday, May 23rd. Piper Sandler dropped their target price on shares of Block from $105.00 to $84.00 and set a “neutral” rating for the company in a research report on Wednesday, July 6th. Mizuho dropped their target price on shares of Block from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Monday, August 8th. Macquarie cut shares of Block from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $140.00 to $64.00 in a research report on Tuesday, July 19th. Finally, KeyCorp lowered their price objective on shares of Block from $180.00 to $80.00 and set an “overweight” rating for the company in a research report on Thursday, July 7th.

Block Price Performance

NYSE:SQ opened at $64.89 on Monday. The company has a 50-day moving average of $73.81 and a 200-day moving average of $88.98. The company has a market capitalization of $37.64 billion, a price-to-earnings ratio of -71.31 and a beta of 2.45. Block has a 52 week low of $56.01 and a 52 week high of $270.16. 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:SQGet Rating) last released its quarterly earnings data on Thursday, August 4th. The technology company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) 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 net margin of 3.00% and a negative return on equity of 2.52%. The firm’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period last year, the firm earned $0.38 EPS. As a group, equities research analysts anticipate that Block will post -0.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Block

In other news, insider Alyssa Henry sold 30,770 shares of the business’s stock in a transaction on Wednesday, June 22nd. The shares were sold at an average price of $60.14, for a total value of $1,850,507.80. Following the sale, the insider now owns 433,543 shares of the company’s stock, valued at $26,073,276.02. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Alyssa Henry sold 30,770 shares of the business’s stock in a transaction on Wednesday, June 22nd. The shares were sold at an average price of $60.14, for a total value of $1,850,507.80. Following the sale, the insider now owns 433,543 shares of the company’s stock, valued at $26,073,276.02. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Amrita Ahuja sold 4,029 shares of the business’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $62.63, for a total transaction of $252,336.27. Following the completion of the sale, the chief financial officer now directly owns 155,649 shares in the company, valued at approximately $9,748,296.87. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 360,811 shares of company stock valued at $25,701,474. 11.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Block

Institutional investors have recently added to or reduced their stakes in the company. O Dell Group LLC increased its holdings in shares of Block by 9.9% in the second quarter. O Dell Group LLC now owns 1,448 shares of the technology company’s stock valued at $89,000 after purchasing an additional 130 shares during the last quarter. White Knight Strategic Wealth Advisors LLC boosted its position in shares of Block by 1.7% in the second quarter. White Knight Strategic Wealth Advisors LLC now owns 8,856 shares of the technology company’s stock valued at $544,000 after acquiring an additional 150 shares during the period. GraniteShares Advisors LLC boosted its position in shares of Block by 7.2% in the first quarter. GraniteShares Advisors LLC now owns 2,266 shares of the technology company’s stock valued at $307,000 after acquiring an additional 153 shares during the period. Arlington Partners LLC boosted its position in shares of Block by 200.0% in the first quarter. Arlington Partners LLC now owns 234 shares of the technology company’s stock valued at $32,000 after acquiring an additional 156 shares during the period. Finally, Meiji Yasuda Life Insurance Co boosted its position in shares of Block by 3.4% in the second quarter. Meiji Yasuda Life Insurance Co now owns 5,109 shares of the technology company’s stock valued at $314,000 after acquiring an additional 170 shares during the period. 62.26% of the stock is currently owned by institutional investors and hedge funds.

Block Company Profile

(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.

See Also

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.