Block (NYSE:SQ) PT Raised to $92.00

Block (NYSE:SQ) had its price objective upped by TD Cowen from $90.00 to $92.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Other equities research analysts have also issued reports about the stock. Truist Financial boosted their price objective on shares of Block from $90.00 to $100.00 and gave the stock a buy rating in a report on Friday, February 23rd. Wedbush reissued an outperform rating and issued a $90.00 price target on shares of Block in a research note on Friday. Wells Fargo & Company raised Block from an equal weight rating to an overweight rating and set a $95.00 price objective on the stock in a research note on Friday, February 23rd. Keefe, Bruyette & Woods lifted their price objective on Block from $74.00 to $78.00 and gave the stock a market perform rating in a report on Friday, February 23rd. Finally, Mizuho increased their target price on Block from $99.00 to $106.00 and gave the company a buy rating in a report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Block currently has an average rating of Moderate Buy and a consensus price target of $87.42.

Block Price Performance

Shares of Block stock traded down $0.83 during trading on Friday, hitting $69.47. The stock had a trading volume of 28,948,341 shares, compared to its average volume of 7,617,495. The business’s 50-day moving average is $77.82 and its 200 day moving average is $67.83. Block has a 12 month low of $38.85 and a 12 month high of $87.52. The firm has a market cap of $42.77 billion, a price-to-earnings ratio of 90.20, a P/E/G ratio of 1.94 and a beta of 2.57. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22.

Block (NYSE:SQ) last announced its earnings results on Thursday, February 22nd. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. Block had a net margin of 2.18% and a return on equity of 2.07%. The company had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.69 billion. As a group, sell-side analysts anticipate that Block will post 1.11 earnings per share for the current year.

Insider Activity

In other Block news, insider Brian Grassadonia sold 127,800 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $65.45, for a total transaction of $8,364,510.00. Following the transaction, the insider now directly owns 405,224 shares in the company, valued at approximately $26,521,910.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Brian Grassadonia sold 127,800 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $65.45, for a total value of $8,364,510.00. Following the completion of the sale, the insider now owns 405,224 shares of the company’s stock, valued at approximately $26,521,910.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Ajmere Dale sold 656 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $64.30, for a total value of $42,180.80. Following the sale, the chief accounting officer now owns 68,823 shares of the company’s stock, valued at approximately $4,425,318.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 477,469 shares of company stock worth $34,963,585. Company insiders own 10.79% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SQ. Montag A & Associates Inc. grew its stake in Block by 843.2% during the 4th quarter. Montag A & Associates Inc. now owns 349 shares of the technology company’s stock valued at $27,000 after purchasing an additional 312 shares during the last quarter. Riverview Trust Co purchased a new stake in Block in the first quarter valued at approximately $28,000. Front Row Advisors LLC increased its holdings in Block by 67,500.0% in the 3rd quarter. Front Row Advisors LLC now owns 676 shares of the technology company’s stock worth $30,000 after buying an additional 675 shares during the period. Larson Financial Group LLC raised its position in Block by 38.4% during the 3rd quarter. Larson Financial Group LLC now owns 728 shares of the technology company’s stock worth $32,000 after buying an additional 202 shares during the last quarter. Finally, Tidemark LLC acquired a new stake in Block during the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Block Company Profile

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.