Block, Inc. (NYSE:SQ) Receives $96.33 Average Price Target from Brokerages

Block, Inc. (NYSE:SQ - Get Free Report) has earned a consensus rating of "Moderate Buy" from the thirty-two brokerages that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-six have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $96.33.

A number of research firms have recently issued reports on SQ. Oppenheimer raised shares of Block from a "market perform" rating to an "outperform" rating and set a $115.00 price objective for the company in a report on Thursday, December 19th. BNP Paribas downgraded Block from an "outperform" rating to a "neutral" rating and set a $88.00 price objective on the stock. in a report on Wednesday, November 20th. Sanford C. Bernstein increased their price target on shares of Block from $90.00 to $120.00 and gave the company an "outperform" rating in a research report on Monday, December 2nd. William Blair reissued an "outperform" rating on shares of Block in a research report on Friday, November 15th. Finally, Needham & Company LLC increased their target price on Block from $80.00 to $90.00 and gave the stock a "buy" rating in a research note on Friday, November 8th.

Block Price Performance

Shares of SQ traded down $2.51 during mid-day trading on Friday, reaching $88.97. 4,137,449 shares of the stock traded hands, compared to its average volume of 8,192,994. The company has a market cap of $55.14 billion, a price-to-earnings ratio of 49.98, a price-to-earnings-growth ratio of 1.23 and a beta of 2.50. Block has a 1 year low of $55.00 and a 1 year high of $99.26. The firm has a fifty day moving average price of $85.74 and a 200 day moving average price of $72.39. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26.

Insider Buying and Selling

In other Block news, insider Brian Grassadonia sold 1,884 shares of the company's stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $65.41, for a total value of $123,232.44. Following the transaction, the insider now owns 574,914 shares of the company's stock, valued at $37,605,124.74. This represents a 0.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Chrysty Esperanza sold 2,865 shares of Block stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $95.00, for a total value of $272,175.00. Following the sale, the insider now owns 85,235 shares of the company's stock, valued at approximately $8,097,325. This trade represents a 3.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,918 shares of company stock worth $2,666,147. Corporate insiders own 10.49% of the company's stock.

Institutional Trading of Block

A number of large investors have recently modified their holdings of SQ. SouthState Corp lifted its stake in Block by 85.3% in the third quarter. SouthState Corp now owns 391 shares of the technology company's stock worth $26,000 after acquiring an additional 180 shares during the period. True Wealth Design LLC lifted its position in shares of Block by 64.7% in the 3rd quarter. True Wealth Design LLC now owns 494 shares of the technology company's stock worth $33,000 after purchasing an additional 194 shares during the period. V Square Quantitative Management LLC bought a new position in shares of Block during the third quarter valued at approximately $46,000. Future Financial Wealth Managment LLC purchased a new position in Block during the third quarter valued at approximately $57,000. Finally, Asset Dedication LLC increased its holdings in Block by 392.7% during the second quarter. Asset Dedication LLC now owns 877 shares of the technology company's stock valued at $57,000 after buying an additional 699 shares during the period. Hedge funds and other institutional investors 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.