Block, Inc. (NYSE:SQ) Receives $87.34 Average PT from Brokerages

Block, Inc. (NYSE:SQ) has received an average rating of “Moderate Buy” from the thirty-one brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $87.34.

A number of brokerages recently issued reports on SQ. Royal Bank of Canada restated an “outperform” rating and issued a $88.00 price objective on shares of Block in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Block from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Susquehanna reiterated a “positive” rating and issued a $100.00 price objective on shares of Block in a research note on Wednesday, June 26th. The Goldman Sachs Group restated a “buy” rating and set a $80.00 target price on shares of Block in a research report on Monday, June 24th. Finally, Macquarie reiterated an “outperform” rating and issued a $100.00 price target on shares of Block in a research report on Friday, July 26th.

Block Stock Up 1.9 %

SQ opened at $66.49 on Friday. The company’s 50-day moving average price is $63.94 and its two-hundred day moving average price is $68.78. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.26. Block has a twelve month low of $38.85 and a twelve month high of $87.52. The stock has a market cap of $41.03 billion, a price-to-earnings ratio of 86.35, a PEG ratio of 1.18 and a beta of 2.49.

Block (NYSE:SQ) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.09. The business had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.27 billion. Block had a return on equity of 3.77% and a net margin of 3.47%. Block’s revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.40 earnings per share. As a group, equities analysts expect that Block will post 1.72 earnings per share for the current year.

Insider Activity

In related news, CAO Ajmere Dale sold 471 shares of Block stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $64.37, for a total value of $30,318.27. Following the transaction, the chief accounting officer now owns 92,866 shares in the company, valued at approximately $5,977,784.42. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Roelof Botha bought 434,405 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average price of $57.55 per share, for a total transaction of $25,000,007.75. Following the completion of the acquisition, the director now owns 434,405 shares of the company’s stock, valued at $25,000,007.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Ajmere Dale sold 471 shares of Block stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $64.37, for a total transaction of $30,318.27. Following the completion of the transaction, the chief accounting officer now directly owns 92,866 shares in the company, valued at $5,977,784.42. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,179 shares of company stock valued at $1,833,962. Corporate insiders own 10.49% of the company’s stock.

Hedge Funds Weigh In On Block

Hedge funds have recently modified their holdings of the company. Wealthcare Advisory Partners LLC lifted its position in shares of Block by 1.3% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 10,618 shares of the technology company’s stock worth $898,000 after purchasing an additional 139 shares during the period. Financial Perspectives Inc lifted its holdings in Block by 7.2% in the first quarter. Financial Perspectives Inc now owns 2,300 shares of the technology company’s stock worth $195,000 after buying an additional 155 shares during the period. Valley National Advisers Inc. boosted its position in Block by 25.4% during the 1st quarter. Valley National Advisers Inc. now owns 765 shares of the technology company’s stock valued at $64,000 after acquiring an additional 155 shares in the last quarter. Aaron Wealth Advisors LLC grew its holdings in shares of Block by 3.4% during the 1st quarter. Aaron Wealth Advisors LLC now owns 4,831 shares of the technology company’s stock worth $409,000 after acquiring an additional 157 shares during the period. Finally, CAP Partners LLC raised its position in shares of Block by 3.5% in the 1st quarter. CAP Partners LLC now owns 4,765 shares of the technology company’s stock worth $403,000 after acquiring an additional 163 shares in the last quarter. Hedge funds and other institutional investors own 70.44% of the company’s stock.

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.