Block (NYSE:SQ) Rating Reiterated by Susquehanna

Block (NYSE:SQ)‘s stock had its “positive” rating reissued by equities researchers at Susquehanna in a report released on Wednesday, Benzinga reports. They presently have a $100.00 target price on the technology company’s stock. Susquehanna’s target price would suggest a potential upside of 57.78% from the stock’s previous close.

A number of other research firms have also recently commented on SQ. Canaccord Genuity Group reissued a “buy” rating and set a $95.00 target price on shares of Block in a research report on Friday, May 3rd. Citigroup raised their price objective on Block from $86.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Evercore ISI reaffirmed an “in-line” rating and set a $75.00 target price on shares of Block in a research report on Tuesday, March 26th. Wedbush reissued an “outperform” rating and issued a $90.00 price target on shares of Block in a report on Friday, May 3rd. Finally, Needham & Company LLC upped their price objective on shares of Block from $95.00 to $105.00 and gave the company a “buy” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.13.

Block Trading Up 0.1 %

Shares of NYSE:SQ opened at $63.38 on Wednesday. The company has a market capitalization of $39.11 billion, a PE ratio of 82.29, a P/E/G ratio of 1.50 and a beta of 2.54. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.16. Block has a 12-month low of $38.85 and a 12-month high of $87.52. The business’s fifty day simple moving average is $68.03 and its 200-day simple moving average is $71.63.

Block (NYSE:SQ) last posted its earnings results on Thursday, May 2nd. The technology company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.32. The company had revenue of $5.96 billion for the quarter, compared to analyst estimates of $5.75 billion. Block had a return on equity of 2.04% and a net margin of 2.18%. As a group, equities research analysts predict that Block will post 1.28 earnings per share for the current fiscal year.

Insider Activity

In other Block news, CFO Amrita Ahuja sold 6,788 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $71.26, for a total transaction of $483,712.88. Following the transaction, the chief financial officer now owns 282,886 shares in the company, valued at $20,158,456.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Ajmere Dale sold 1,278 shares of Block stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $71.26, for a total value of $91,070.28. Following the sale, the chief accounting officer now owns 93,337 shares in the company, valued at $6,651,194.62. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Amrita Ahuja sold 6,788 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $71.26, for a total transaction of $483,712.88. Following the transaction, the chief financial officer now owns 282,886 shares of the company’s stock, valued at approximately $20,158,456.36. The disclosure for this sale can be found here. Insiders have sold 247,739 shares of company stock worth $18,584,747 in the last ninety days. Company insiders own 10.49% of the company’s stock.

Institutional Investors Weigh In On Block

Several institutional investors have recently bought and sold shares of SQ. Montag A & Associates Inc. lifted its stake 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 worth $27,000 after buying an additional 312 shares in the last quarter. Riverview Trust Co acquired a new position in shares of Block during the 1st quarter worth approximately $28,000. Front Row Advisors LLC grew its position 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 purchasing an additional 675 shares in the last quarter. Tidemark LLC purchased a new stake in shares of Block in the fourth quarter valued at approximately $32,000. Finally, YHB Investment Advisors Inc. acquired a new stake in shares of Block in the first quarter valued at approximately $33,000. 70.44% of the stock is currently owned by institutional investors and hedge funds.

About Block

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.