Robert W. Baird Increases Block (NYSE:SQ) Price Target to $85.00

Block (NYSE:SQGet Rating) had its price objective boosted by equities researchers at Robert W. Baird from $78.00 to $85.00 in a note issued to investors on Wednesday, The Fly reports. Robert W. Baird’s price objective indicates a potential upside of 19.82% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. Piper Sandler reiterated an “overweight” rating and issued a $93.00 price target on shares of Block in a research note on Tuesday, December 13th. Atlantic Securities dropped their price target on Block from $110.00 to $75.00 and set an “overweight” rating for the company in a research note on Wednesday, October 12th. Citigroup dropped their price target on Block from $135.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, December 21st. UBS Group dropped their price target on Block from $104.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, December 15th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $85.00 price target on shares of Block in a research note on Friday, November 18th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and thirty-three have given a buy rating to the company. According to MarketBeat, Block has a consensus rating of “Moderate Buy” and an average target price of $112.50.

Block Trading Down 1.6 %

Shares of SQ stock opened at $70.94 on Wednesday. The stock’s fifty day moving average price is $65.93 and its two-hundred day moving average price is $66.54. The company has a market cap of $42.43 billion, a PE ratio of -76.28, a P/E/G ratio of 50.32 and a beta of 2.35. Block has a fifty-two week low of $51.34 and a fifty-two week high of $149.00. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.86 and a current ratio of 1.86.

Block (NYSE:SQGet Rating) last issued its earnings results on Thursday, November 3rd. The technology company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.16. The firm had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.48 billion. Block had a negative return on equity of 2.10% and a negative net margin of 2.97%. Equities analysts predict that Block will post -0.67 EPS for the current fiscal year.

Insider Buying and Selling at Block

In other Block news, insider Alyssa Henry sold 30,769 shares of Block stock in a transaction dated Wednesday, January 11th. The stock was sold at an average price of $70.66, for a total transaction of $2,174,137.54. Following the completion of the transaction, the insider now owns 418,667 shares in the company, valued at approximately $29,583,010.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Block news, insider Alyssa Henry sold 30,769 shares of Block stock in a transaction dated Wednesday, January 11th. The stock was sold at an average price of $70.66, for a total transaction of $2,174,137.54. Following the completion of the transaction, the insider now owns 418,667 shares in the company, valued at approximately $29,583,010.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sivan Whiteley sold 2,716 shares of Block stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $64.28, for a total value of $174,584.48. Following the transaction, the insider now owns 105,400 shares of the company’s stock, valued at approximately $6,775,112. The disclosure for this sale can be found here. In the last quarter, insiders sold 287,537 shares of company stock worth $18,053,265. Insiders own 11.52% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Oxler Private Wealth LLC boosted its position in Block by 95.7% in the third quarter. Oxler Private Wealth LLC now owns 460 shares of the technology company’s stock worth $25,000 after purchasing an additional 225 shares during the last quarter. Ronald Blue Trust Inc. boosted its position in Block by 72.5% in the fourth quarter. Ronald Blue Trust Inc. now owns 476 shares of the technology company’s stock worth $26,000 after purchasing an additional 200 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC purchased a new position in Block in the third quarter worth $28,000. Armstrong Advisory Group Inc. purchased a new position in Block in the fourth quarter worth $34,000. Finally, Heritage Wealth Management LLC purchased a new position in Block in the second quarter worth $36,000. Hedge funds and other institutional investors own 59.49% of the company’s stock.

About Block

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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.

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