Block (NYSE:SQ) PT Lowered to $130.00

Block (NYSE:SQGet Rating) had its price objective reduced by DA Davidson to $130.00 in a research note released on Monday, Stock Target Advisor reports. DA Davidson also issued estimates for Block’s Q4 2022 earnings at ($0.18) EPS, FY2022 earnings at ($0.70) EPS and FY2023 earnings at $0.36 EPS.

Several other equities analysts have also recently weighed in on SQ. Macquarie raised Block from a neutral rating to an outperform rating and set a $100.00 price objective for the company in a report on Tuesday, November 8th. Stephens dropped their price objective on Block from $130.00 to $110.00 and set an overweight rating for the company in a report on Monday, August 8th. BMO Capital Markets lifted their price target on 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 decreased their price target on Block from $134.00 to $114.00 and set a buy rating on the stock in a research note on Friday, November 4th. Finally, Keefe, Bruyette & Woods decreased their price target on Block from $100.00 to $78.00 in a research note on Monday, October 10th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and thirty-one have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $114.70.

Block Price Performance

Shares of NYSE SQ opened at $63.92 on Monday. The stock has a market capitalization of $38.23 billion, a PE ratio of -68.73 and a beta of 2.37. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.86 and a quick ratio of 1.86. The business has a fifty day moving average price of $59.98 and a two-hundred day moving average price of $69.16. Block has a fifty-two week low of $51.34 and a fifty-two week high of $220.60.

Block (NYSE:SQGet Rating) last announced its quarterly earnings data on Thursday, November 3rd. The technology company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.16. The firm had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.48 billion. Block had a negative return on equity of 2.10% and a negative net margin of 2.97%. As a group, equities analysts predict that Block will post -0.68 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Ajmere Dale sold 875 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $54.61, for a total transaction of $47,783.75. Following the transaction, the chief accounting officer now directly owns 47,922 shares of the company’s stock, valued at approximately $2,617,020.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Sivan Whiteley sold 4,045 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $54.61, for a total transaction of $220,897.45. Following the transaction, the insider now directly owns 108,220 shares of the company’s stock, valued at approximately $5,909,894.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Ajmere Dale sold 875 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $54.61, for a total value of $47,783.75. Following the transaction, the chief accounting officer now directly owns 47,922 shares in the company, valued at $2,617,020.42. The disclosure for this sale can be found here. Insiders have sold 351,198 shares of company stock valued at $21,260,988 in the last ninety days. 11.52% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Truepoint Inc. purchased a new stake in shares of Block in the second quarter worth approximately $313,000. abrdn plc raised its stake in shares of Block by 7.9% in the second quarter. abrdn plc now owns 66,003 shares of the technology company’s stock worth $4,069,000 after purchasing an additional 4,808 shares during the last quarter. AlphaCrest Capital Management LLC raised its stake in shares of Block by 816.4% in the second quarter. AlphaCrest Capital Management LLC now owns 29,956 shares of the technology company’s stock worth $1,841,000 after purchasing an additional 26,687 shares during the last quarter. Glassman Wealth Services raised its stake in shares of Block by 42.3% in the second quarter. Glassman Wealth Services now owns 1,264 shares of the technology company’s stock worth $78,000 after purchasing an additional 376 shares during the last quarter. Finally, Johnson Financial Group LLC raised its stake in shares of Block by 41.6% in the first quarter. Johnson Financial Group LLC now owns 40,421 shares of the technology company’s stock worth $5,481,000 after purchasing an additional 11,875 shares during the last quarter. 62.26% of the stock is owned by institutional investors and hedge funds.

Block Company Profile

(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.

Recommended Stories

Analyst Recommendations for Block (NYSE:SQ)

Receive News & Ratings for Block Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Block and related companies with MarketBeat.com's FREE daily email newsletter.