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

Block (NYSE:SQGet Rating) had its target price upped by research analysts at Robert W. Baird from $78.00 to $85.00 in a research report issued to clients and investors on Wednesday, The Fly reports. Robert W. Baird’s target price would indicate a potential upside of 19.82% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. BMO Capital Markets raised their target price on Block from $117.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, November 7th. StockNews.com began coverage on Block in a report on Wednesday, October 12th. They issued a “sell” rating on the stock. 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. Mizuho increased their price target on Block from $69.00 to $70.00 and gave the company a “neutral” rating in a research note on Monday, December 12th. 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 analysts have rated the stock with a sell rating, five have given a hold rating and thirty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, Block has a consensus rating of “Moderate Buy” and a consensus price target of $112.50.

Block Trading Down 1.6 %

Shares of NYSE:SQ opened at $70.94 on Wednesday. The company has a market capitalization of $42.43 billion, a P/E ratio of -76.28, a P/E/G ratio of 50.32 and a beta of 2.35. Block has a 1 year low of $51.34 and a 1 year high of $149.00. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.86 and a quick ratio of 1.86. The business’s 50 day simple moving average is $65.93 and its 200 day simple moving average is $66.54.

Block (NYSE:SQGet Rating) last issued its quarterly earnings results on Thursday, November 3rd. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.16. The business 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%. On average, research analysts anticipate that Block will post -0.67 EPS for the current fiscal year.

Insider Activity

In other Block news, insider Alyssa Henry sold 30,769 shares of Block stock in a transaction dated Wednesday, October 26th. The stock was sold at an average price of $59.84, for a total transaction of $1,841,216.96. Following the completion of the transaction, the insider now owns 422,615 shares in the company, valued at approximately $25,289,281.60. 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, October 26th. The stock was sold at an average price of $59.84, for a total transaction of $1,841,216.96. Following the completion of the transaction, the insider now owns 422,615 shares in the company, valued at approximately $25,289,281.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Amrita Ahuja sold 3,820 shares of Block stock in a transaction dated Wednesday, November 2nd. The shares were sold at an average price of $58.86, for a total value of $224,845.20. Following the transaction, the chief financial officer now owns 144,010 shares of the company’s stock, valued at approximately $8,476,428.60. The disclosure for this sale can be found here. Insiders sold a total of 287,537 shares of company stock worth $18,053,265 in the last three months. Company insiders own 11.52% of the company’s stock.

Institutional Trading of Block

Institutional investors and hedge funds have recently modified their holdings of the business. Caisse DE Depot ET Placement DU Quebec boosted its position in Block by 63.6% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 216,168 shares of the technology company’s stock worth $13,286,000 after purchasing an additional 84,008 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Block by 42,272.9% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 25,000 shares of the technology company’s stock worth $1,536,000 after purchasing an additional 24,941 shares during the last quarter. Whittier Trust Co. boosted its position in Block by 8.2% in the third quarter. Whittier Trust Co. now owns 42,824 shares of the technology company’s stock worth $2,355,000 after purchasing an additional 3,229 shares during the last quarter. NuWave Investment Management LLC purchased a new position in Block in the third quarter worth $180,000. Finally, Truepoint Inc. purchased a new position in Block in the second quarter worth $313,000. 59.49% of the stock is owned by hedge funds and other institutional investors.

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.

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