Block (NYSE:SQ) Price Target Raised to $105.00

Block (NYSE:SQGet Rating) had its price target hoisted by equities researchers at Truist Financial from $85.00 to $105.00 in a note issued to investors on Friday, The Fly reports. The brokerage presently has a “buy” rating on the technology company’s stock. Truist Financial’s target price points to a potential upside of 37.87% from the stock’s current price.

Several other analysts have also recently commented on SQ. Keefe, Bruyette & Woods decreased their target price on Block from $100.00 to $78.00 in a report on Monday, October 10th. BMO Capital Markets raised their price objective on Block from $117.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, November 7th. Jefferies Financial Group reissued a “buy” rating and set a $85.00 price target on shares of Block in a report on Friday, November 18th. Citigroup decreased their price target on Block from $135.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, December 21st. Finally, StockNews.com started coverage on Block in a research report on Wednesday, October 12th. They issued a “sell” rating on the stock. 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $113.00.

Block Trading Up 7.4 %

Shares of NYSE SQ opened at $76.16 on Friday. The stock has a market cap of $45.55 billion, a price-to-earnings ratio of -81.89, a PEG ratio of 50.32 and a beta of 2.35. The business has a 50 day simple moving average of $66.02 and a 200 day simple moving average of $66.62. Block has a 52 week low of $51.34 and a 52 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 posted its earnings results on Thursday, November 3rd. The technology company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.16. Block had a negative return on equity of 2.10% and a negative net margin of 2.97%. The firm had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.48 billion. On average, research analysts predict that Block will post -0.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Ajmere Dale sold 1,032 shares of the company’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $64.28, for a total transaction of $66,336.96. Following the completion of the transaction, the chief accounting officer now owns 46,892 shares in the company, valued at $3,014,217.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Block news, insider Sivan Whiteley sold 2,716 shares of the company’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $64.28, for a total transaction of $174,584.48. Following the completion of the sale, the insider now directly owns 105,400 shares of the company’s stock, valued at $6,775,112. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Ajmere Dale sold 1,032 shares of the company’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $64.28, for a total value of $66,336.96. Following the completion of the transaction, the chief accounting officer now owns 46,892 shares in the company, valued at approximately $3,014,217.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 318,306 shares of company stock worth $20,369,863. Insiders own 11.52% of the company’s stock.

Institutional Investors Weigh In On Block

A number of large investors have recently added to or reduced their stakes in the stock. Ronald Blue Trust Inc. acquired a new stake in shares of Block in the second quarter valued at $43,000. Oxler Private Wealth LLC increased its position in shares of Block by 95.7% during the 3rd 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. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of Block during the 3rd quarter worth approximately $28,000. Armstrong Advisory Group Inc. acquired a new position in shares of Block during the 4th quarter worth approximately $34,000. Finally, Heritage Wealth Management LLC bought a new stake in Block in the 2nd quarter valued at $36,000. Institutional investors own 59.49% of the company’s stock.

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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