FY2024 Earnings Estimate for Block Issued By Seaport Res Ptn

Block, Inc. (NYSE:SQ - Free Report) - Investment analysts at Seaport Res Ptn boosted their FY2024 EPS estimates for Block in a report issued on Tuesday, January 14th. Seaport Res Ptn analyst J. Cantwell now expects that the technology company will earn $1.67 per share for the year, up from their prior forecast of $1.66. The consensus estimate for Block's current full-year earnings is $1.73 per share. Seaport Res Ptn also issued estimates for Block's Q4 2024 earnings at $0.33 EPS, Q3 2025 earnings at $0.67 EPS, Q4 2025 earnings at $0.85 EPS and FY2025 earnings at $2.62 EPS.

Other research analysts also recently issued reports about the stock. Macquarie upped their price target on shares of Block from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Tuesday, December 10th. BNP Paribas downgraded shares of Block from an "outperform" rating to a "neutral" rating and set a $88.00 price target for the company. in a research note on Wednesday, November 20th. Sanford C. Bernstein upped their target price on Block from $90.00 to $120.00 and gave the company an "outperform" rating in a report on Monday, December 2nd. Raymond James upgraded Block from a "market perform" rating to an "outperform" rating and set a $115.00 price target for the company in a report on Friday, January 3rd. Finally, Canaccord Genuity Group raised their price objective on shares of Block from $95.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $97.68.

Block Price Performance

Shares of SQ stock traded up $0.62 on Friday, reaching $87.00. The company had a trading volume of 5,788,892 shares, compared to its average volume of 6,727,022. Block has a one year low of $55.00 and a one year high of $99.26. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $53.92 billion, a PE ratio of 48.88, a price-to-earnings-growth ratio of 0.75 and a beta of 2.51. The business's 50-day moving average is $89.61 and its 200 day moving average is $74.68.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Key Client Fiduciary Advisors LLC raised its stake in shares of Block by 1.4% during the fourth quarter. Key Client Fiduciary Advisors LLC now owns 8,340 shares of the technology company's stock valued at $709,000 after acquiring an additional 115 shares during the last quarter. Whalen Wealth Management Inc. purchased a new position in Block during the 4th quarter valued at $527,000. Mutual Advisors LLC raised its holdings in Block by 11.0% in the 4th quarter. Mutual Advisors LLC now owns 5,040 shares of the technology company's stock worth $435,000 after purchasing an additional 498 shares in the last quarter. Independent Wealth Network Inc. purchased a new stake in shares of Block in the 4th quarter worth about $243,000. Finally, Magnus Financial Group LLC bought a new stake in shares of Block during the 4th quarter valued at about $217,000. 70.44% of the stock is currently owned by institutional investors.

Insider Activity at Block

In other news, insider Owen Britton Jennings sold 2,836 shares of the company's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $89.38, for a total transaction of $253,481.68. Following the sale, the insider now directly owns 195,449 shares in the company, valued at $17,469,231.62. This represents a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Ajmere Dale sold 1,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $80.00, for a total transaction of $80,000.00. Following the completion of the sale, the chief accounting officer now owns 88,791 shares in the company, valued at $7,103,280. This represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,981 shares of company stock worth $2,681,185. 10.49% of the stock is owned by company insiders.

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.