Block, Inc. (NYSE:SQ) Given Average Rating of “Moderate Buy” by Analysts

Block, Inc. (NYSE:SQ) has earned a consensus rating of “Moderate Buy” from the thirty-three research firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-seven have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $97.68.

A number of research firms have weighed in on SQ. Royal Bank of Canada reissued an “outperform” rating and set a $88.00 target price on shares of Block in a research report on Monday, October 21st. William Blair reissued an “outperform” rating on shares of Block in a research report on Friday, November 15th. The Goldman Sachs Group increased their target price on shares of Block from $87.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. BMO Capital Markets cut Block from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $94.00 to $100.00 in a report on Monday, November 25th. Finally, Sanford C. Bernstein increased their price target on Block from $90.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd.

Insider Activity

In other news, insider Chrysty Esperanza sold 2,964 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $80.00, for a total transaction of $237,120.00. Following the completion of the sale, the insider now directly owns 88,607 shares of the company’s stock, valued at $7,088,560. This trade represents a 3.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Ajmere Dale sold 1,000 shares of Block stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $80.00, for a total value of $80,000.00. Following the completion of the sale, the chief accounting officer now directly owns 88,791 shares of the company’s stock, valued at approximately $7,103,280. This trade represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,981 shares of company stock valued at $2,681,185 in the last ninety days. 10.49% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Block

Large investors have recently added to or reduced their stakes in the company. Southpoint Capital Advisors LP bought a new position in Block in the 3rd quarter worth about $114,121,000. Massachusetts Financial Services Co. MA boosted its stake in Block by 770.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,738,708 shares of the technology company’s stock worth $116,719,000 after purchasing an additional 1,538,849 shares during the period. Lone Pine Capital LLC boosted its stake in Block by 13.9% in the 2nd quarter. Lone Pine Capital LLC now owns 7,670,523 shares of the technology company’s stock worth $494,672,000 after purchasing an additional 934,588 shares during the period. Woodson Capital Management LP bought a new position in Block in the 3rd quarter worth about $27,255,000. Finally, Azora Capital LP boosted its stake in Block by 358.4% in the 3rd quarter. Azora Capital LP now owns 503,402 shares of the technology company’s stock worth $33,793,000 after purchasing an additional 393,593 shares during the period. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Block Stock Performance

The firm has a market cap of $53.90 billion, a P/E ratio of 48.92, a PEG ratio of 0.79 and a beta of 2.51. The firm’s fifty day moving average price is $89.68 and its 200 day moving average price is $75.13. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07. Block has a 52-week low of $55.00 and a 52-week high of $99.26.

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.