Block, Inc. (NYSE:SQ) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Block, Inc. (NYSE:SQ) have been given an average rating of “Moderate Buy” by the thirty-two analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-four have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $93.21.

A number of analysts have commented on the stock. BNP Paribas lowered shares of Block from an “outperform” rating to a “neutral” rating and set a $88.00 target price for the company. in a report on Wednesday, November 20th. Keefe, Bruyette & Woods upped their price objective on Block from $71.00 to $80.00 and gave the company a “market perform” rating in a report on Friday, November 8th. Royal Bank of Canada restated an “outperform” rating and set a $88.00 target price on shares of Block in a report on Monday, October 21st. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 price target on shares of Block in a research note on Monday, November 11th. Finally, The Goldman Sachs Group lifted their price objective on shares of Block from $87.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday.

Insider Activity

In other news, CAO Ajmere Dale sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $67.00, for a total transaction of $33,500.00. Following the completion of the sale, the chief accounting officer now owns 90,460 shares in the company, valued at $6,060,820. The trade was a 0.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Amrita Ahuja sold 6,661 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $91.43, for a total value of $609,015.23. Following the transaction, the chief financial officer now owns 246,967 shares in the company, valued at approximately $22,580,192.81. This trade represents a 2.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,053 shares of company stock valued at $2,393,972 in the last quarter. Company insiders own 10.49% of the company’s stock.

Institutional Trading of Block

A number of institutional investors have recently bought and sold shares of SQ. SouthState Corp boosted its stake in shares of Block by 85.3% in the third quarter. SouthState Corp now owns 391 shares of the technology company’s stock valued at $26,000 after buying an additional 180 shares during the period. True Wealth Design LLC lifted its position in shares of Block by 64.7% during the 3rd quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock valued at $33,000 after acquiring an additional 194 shares during the period. Unique Wealth Strategies LLC acquired a new stake in shares of Block during the 2nd quarter worth $34,000. V Square Quantitative Management LLC bought a new position in shares of Block in the third quarter worth $46,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Block in the second quarter valued at about $44,000. Institutional investors own 70.44% of the company’s stock.

Block Price Performance

Block stock opened at $93.21 on Wednesday. The business’s 50-day simple moving average is $77.04 and its 200 day simple moving average is $69.00. 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 cap of $57.77 billion, a price-to-earnings ratio of 52.36, a P/E/G ratio of 1.25 and a beta of 2.50. Block has a 12-month low of $55.00 and a 12-month high of $95.95.

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.