FY2022 Earnings Forecast for Block, Inc. (NYSE:SQ) Issued By DA Davidson

Block, Inc. (NYSE:SQGet Rating) – Analysts at DA Davidson increased their FY2022 EPS estimates for Block in a research note issued to investors on Monday, November 21st. DA Davidson analyst C. Brendler now expects that the technology company will post earnings of ($0.70) per share for the year, up from their previous forecast of ($0.86). The consensus estimate for Block’s current full-year earnings is ($0.69) per share. DA Davidson also issued estimates for Block’s Q4 2022 earnings at ($0.18) EPS and FY2023 earnings at $0.36 EPS.

Several other research firms have also recently commented on SQ. BMO Capital Markets upped their target price on shares of Block from $117.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, November 7th. The Goldman Sachs Group dropped their price objective on shares of Block from $134.00 to $114.00 and set a “buy” rating for the company in a research note on Friday, November 4th. Barclays dropped their price objective on shares of Block from $130.00 to $100.00 and set an “overweight” rating for the company in a research note on Sunday, November 6th. Truist Financial dropped their price objective on shares of Block from $115.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, October 13th. Finally, William Blair restated a “market perform” rating on shares of Block in a research note on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirty-one have assigned a buy rating to the company’s stock. According to MarketBeat.com, Block has an average rating of “Moderate Buy” and an average target price of $114.70.

Block Price Performance

NYSE:SQ opened at $63.92 on Wednesday. The stock has a market cap of $38.23 billion, a P/E ratio of -68.73 and a beta of 2.37. Block has a one year low of $51.34 and a one year high of $220.60. The company has a fifty day moving average price of $59.98 and a 200 day moving average price of $69.16. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.86 and a quick ratio of 1.86.

Block (NYSE:SQGet Rating) last posted its quarterly earnings data on Thursday, November 3rd. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.16. The business had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.48 billion. Block had a negative net margin of 2.97% and a negative return on equity of 2.10%.

Institutional Trading of Block

A number of hedge funds have recently modified their holdings of SQ. Ronald Blue Trust Inc. bought a new position in shares of Block in the second quarter valued at $43,000. Oxler Private Wealth LLC lifted its holdings in shares of Block by 95.7% during the third quarter. Oxler Private Wealth LLC now owns 460 shares of the technology company’s stock worth $25,000 after buying an additional 225 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Block during the third quarter worth $28,000. Heritage Wealth Management LLC acquired a new stake in shares of Block during the second quarter worth $36,000. Finally, Twin Lakes Capital Management LLC acquired a new stake in shares of Block during the third quarter worth $37,000. 62.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Ajmere Dale sold 875 shares of the firm’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $54.61, for a total value of $47,783.75. Following the transaction, the chief accounting officer now owns 47,922 shares of the company’s stock, valued at approximately $2,617,020.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Ajmere Dale sold 875 shares of the firm’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $54.61, for a total value of $47,783.75. Following the transaction, the chief accounting officer now owns 47,922 shares of the company’s stock, valued at approximately $2,617,020.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alyssa Henry sold 30,769 shares of the firm’s stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $71.71, for a total transaction of $2,206,444.99. Following the completion of the transaction, the insider now directly owns 422,617 shares in the company, valued at approximately $30,305,865.07. The disclosure for this sale can be found here. Insiders have sold a total of 351,198 shares of company stock valued at $21,260,988 in the last 90 days. 11.52% of the stock is currently owned by insiders.

About Block

(Get Rating)

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.

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Earnings History and Estimates for Block (NYSE:SQ)

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