Block (NYSE:SQ) Price Target Raised to $100.00

Block (NYSE:SQ) had its price objective hoisted by Robert W. Baird from $98.00 to $100.00 in a research report released on Friday morning, Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

Several other brokerages have also recently issued reports on SQ. Keefe, Bruyette & Woods boosted their price target on Block from $74.00 to $78.00 and gave the company a market perform rating in a research report on Friday, February 23rd. Morgan Stanley reiterated an underweight rating and issued a $60.00 price objective (down from $62.00) on shares of Block in a research report on Thursday, April 4th. Piper Sandler reaffirmed an overweight rating and issued a $88.00 target price (up previously from $86.00) on shares of Block in a report on Friday, February 23rd. Wolfe Research increased their price target on shares of Block from $95.00 to $100.00 and gave the stock an outperform rating in a report on Thursday, April 11th. Finally, BTIG Research raised Block from a neutral rating to a buy rating and set a $85.00 price objective on the stock in a report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $87.55.

Block Stock Up 5.8 %

SQ stock traded up $4.06 during midday trading on Friday, reaching $73.53. 11,553,092 shares of the company were exchanged, compared to its average volume of 10,201,752. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 1.90. The stock’s 50-day simple moving average is $77.63 and its 200 day simple moving average is $68.33. The company has a market cap of $45.27 billion, a price-to-earnings ratio of 94.08, a price-to-earnings-growth ratio of 1.66 and a beta of 2.57. Block has a 1-year low of $38.85 and a 1-year high of $87.52.

Block (NYSE:SQ) last posted its earnings results on Thursday, February 22nd. The technology company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.69 billion. Block had a return on equity of 2.07% and a net margin of 2.18%. On average, equities analysts forecast that Block will post 1.29 earnings per share for the current year.

Insider Activity

In related news, CAO Ajmere Dale sold 656 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $64.30, for a total value of $42,180.80. Following the completion of the transaction, the chief accounting officer now owns 68,823 shares of the company’s stock, valued at $4,425,318.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Amrita Ahuja sold 2,581 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $64.30, for a total transaction of $165,958.30. Following the transaction, the chief financial officer now directly owns 201,754 shares in the company, valued at $12,972,782.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Ajmere Dale sold 656 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $64.30, for a total transaction of $42,180.80. Following the sale, the chief accounting officer now owns 68,823 shares of the company’s stock, valued at approximately $4,425,318.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 477,469 shares of company stock worth $34,963,585. 10.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Block

Several institutional investors and hedge funds have recently bought and sold shares of the business. Riverview Trust Co acquired a new stake in shares of Block during the 1st quarter worth approximately $28,000. Montag A & Associates Inc. boosted its holdings in shares of Block by 843.2% during the fourth quarter. Montag A & Associates Inc. now owns 349 shares of the technology company’s stock valued at $27,000 after acquiring an additional 312 shares during the period. YHB Investment Advisors Inc. bought a new position in shares of Block during the first quarter worth about $33,000. Tidemark LLC acquired a new stake in shares of Block in the 4th quarter worth about $32,000. Finally, Vima LLC bought a new stake in Block in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

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.