Research Analysts’ Recent Ratings Updates for Block (SQ)

Several analysts have recently updated their ratings and price targets for Block (NYSE: SQ):

• 4/11/2024 – Block had its price target raised by analysts at Wolfe Research from $95.00 to $100.00. They now have an “outperform” rating on the stock.
• 4/10/2024 – Block had its price target raised by analysts at Mizuho from $99.00 to $106.00. They now have a “buy” rating on the stock.
• 4/4/2024 – Block had its “underweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $60.00 price target on the stock, down previously from $62.00.
• 4/4/2024 – Block had its price target raised by analysts at Benchmark Co. from $89.00 to $99.00. They now have a “buy” rating on the stock.
• 3/27/2024 – Block had its price target raised by analysts at KeyCorp from $80.00 to $95.00. They now have an “overweight” rating on the stock.
• 3/27/2024 – Block had its “buy” rating reaffirmed by analysts at Mizuho. They now have a $99.00 price target on the stock.
• 3/26/2024 – Block had its “in-line” rating reaffirmed by analysts at Evercore ISI. They now have a $75.00 price target on the stock.
• 2/26/2024 – Block had its price target raised by analysts at Citigroup Inc. from $76.00 to $86.00. They now have a “buy” rating on the stock.
• 2/26/2024 – Block had its price target raised by analysts at Canaccord Genuity Group Inc. from $80.00 to $95.00. They now have a “buy” rating on the stock.
• 2/23/2024 – Block had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $88.00 price target on the stock, up previously from $86.00.
• 2/23/2024 – Block was upgraded by analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating. They now have a $95.00 price target on the stock.
• 2/23/2024 – Block had its price target raised by analysts at Royal Bank of Canada from $77.00 to $88.00. They now have an “outperform” rating on the stock.
• 2/23/2024 – Block had its “market perform” rating reaffirmed by analysts at William Blair.
• 2/23/2024 – Block had its price target raised by analysts at Keefe, Bruyette & Woods from $74.00 to $78.00. They now have a “market perform” rating on the stock.
• 2/23/2024 – Block was upgraded by analysts at Seaport Res Ptn from a “neutral” rating to a “buy” rating.
• 2/23/2024 – Block had its price target raised by analysts at Truist Financial Co. from $90.00 to $100.00. They now have a “buy” rating on the stock.
• 2/23/2024 – Block had its price target raised by analysts at Monness Crespi & Hardt from $85.00 to $100.00. They now have a “buy” rating on the stock.
• 2/22/2024 – Block had its price target raised by analysts at Wells Fargo & Company from $55.00 to $65.00. They now have an “equal weight” rating on the stock.
• 2/20/2024 – Block had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $90.00 price target on the stock.

Block Stock Up 0.5 %

Shares of NYSE SQ traded up $0.37 during mid-day trading on Wednesday, reaching $73.51. 5,920,512 shares of the company were exchanged, compared to its average volume of 10,118,555. Block, Inc. has a 1 year low of $38.85 and a 1 year high of $87.52. The firm has a 50-day moving average of $76.51 and a 200 day moving average of $65.75. The stock has a market cap of $45.26 billion, a price-to-earnings ratio of 432.35, a P/E/G ratio of 2.18 and a beta of 2.55. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.22.

Block (NYSE:SQ) last released its earnings results on Thursday, February 22nd. The technology company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. Block had a return on equity of 0.63% and a net margin of 0.04%. The business had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.69 billion. On average, research analysts expect that Block, Inc. will post 1.02 earnings per share for the current year.

Insider Activity

In related news, insider Brian Grassadonia sold 127,800 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $65.45, for a total value of $8,364,510.00. Following the transaction, the insider now owns 405,224 shares in the company, valued at approximately $26,521,910.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Brian Grassadonia sold 127,800 shares of the business’s 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 $26,521,910.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Amrita Ahuja sold 2,581 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $64.30, for a total transaction of $165,958.30. Following the completion of the sale, the chief financial officer now owns 201,754 shares of the company’s stock, valued at approximately $12,972,782.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 363,801 shares of company stock valued at $27,284,175. Company insiders own 10.79% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SQ. Montag A & Associates Inc. lifted its holdings in shares of Block by 843.2% in the fourth 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 in the last quarter. Hexagon Capital Partners LLC grew its stake in Block by 89.6% during the third quarter. Hexagon Capital Partners LLC now owns 635 shares of the technology company’s stock worth $28,000 after buying an additional 300 shares during the period. Riverview Trust Co acquired a new stake in Block in the 1st quarter valued at $28,000. Front Row Advisors LLC grew its stake in shares of Block by 67,500.0% in the third quarter. Front Row Advisors LLC now owns 676 shares of the technology company’s stock valued at $30,000 after buying an additional 675 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Block during the first quarter worth $31,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

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.