Block, Inc. (NYSE:SQ) Receives $90.56 Consensus Price Target from Analysts

Block, Inc. (NYSE:SQ) has received a consensus rating of “Moderate Buy” from the thirty research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $91.30.

Several research firms recently weighed in on SQ. Needham & Company LLC upped their price objective on shares of Block from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, November 8th. UBS Group lowered their price objective on shares of Block from $100.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Macquarie restated an “outperform” rating and issued a $100.00 target price on shares of Block in a research report on Friday, July 26th. Keefe, Bruyette & Woods lifted their price target on Block from $71.00 to $80.00 and gave the company a “market perform” rating in a research report on Friday, November 8th. Finally, Canaccord Genuity Group upped their price objective on Block from $95.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday.

Block Stock Performance

SQ stock opened at $84.30 on Friday. Block has a 1 year low of $55.00 and a 1 year high of $90.00. The stock has a market capitalization of $51.90 billion, a price-to-earnings ratio of 47.36, a PEG ratio of 1.16 and a beta of 2.48. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07. The stock’s fifty day moving average is $70.48 and its two-hundred day moving average is $67.33.

Insider Transactions at Block

In other Block news, insider Brian Grassadonia sold 8,328 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $64.77, for a total transaction of $539,404.56. Following the sale, the insider now directly owns 580,086 shares of the company’s stock, valued at $37,572,170.22. The trade was a 1.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Ajmere Dale sold 1,406 shares of Block stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $64.70, for a total transaction of $90,968.20. Following the transaction, the chief accounting officer now owns 90,960 shares in the company, valued at approximately $5,885,112. This trade represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,678 shares of company stock worth $1,924,112. Corporate insiders own 10.49% of the company’s stock.

Institutional Investors Weigh In On Block

A number of institutional investors have recently modified their holdings of SQ. Conway Capital Management Inc. acquired a new position in shares of Block during the 3rd quarter valued at $287,000. M&T Bank Corp grew its holdings in Block by 10.2% during the third quarter. M&T Bank Corp now owns 33,439 shares of the technology company’s stock worth $2,245,000 after buying an additional 3,086 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of Block by 6.2% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 253,787 shares of the technology company’s stock worth $17,037,000 after acquiring an additional 14,822 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Block in the 3rd quarter valued at about $565,000. Finally, MML Investors Services LLC lifted its holdings in Block by 23.4% during the third quarter. MML Investors Services LLC now owns 86,960 shares of the technology company’s stock worth $5,838,000 after acquiring an additional 16,483 shares during the period. 70.44% of the stock is owned by institutional investors.

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.