Block, Inc. (NYSE:SQ) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Block, Inc. (NYSE:SQ) have been given a consensus rating of “Moderate Buy” by the thirty-two brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-four have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $93.21.

A number of research analysts have issued reports on SQ shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $88.00 target price on shares of Block in a research report on Monday, October 21st. Needham & Company LLC upped their price objective on shares of Block from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Piper Sandler reissued an “overweight” rating and issued a $83.00 price objective on shares of Block in a research note on Monday, November 11th. Keefe, Bruyette & Woods boosted their target price on shares of Block from $71.00 to $80.00 and gave the stock a “market perform” rating in a research note on Friday, November 8th. Finally, The Goldman Sachs Group increased their price target on Block from $87.00 to $102.00 and gave the company a “buy” rating in a research note on Monday.

Block Trading Up 0.5 %

Shares of SQ stock opened at $93.21 on Wednesday. Block has a fifty-two week low of $55.00 and a fifty-two week high of $95.95. The stock’s fifty day moving average price is $77.04 and its two-hundred day moving average price is $69.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07. The company has a market cap of $57.77 billion, a PE ratio of 52.36, a P/E/G ratio of 1.25 and a beta of 2.50.

Insider Activity at Block

In related news, CAO Ajmere Dale sold 1,781 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $91.43, for a total transaction of $162,836.83. Following the transaction, the chief accounting officer now directly owns 86,010 shares of the company’s stock, valued at approximately $7,863,894.30. This represents a 2.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chrysty Esperanza sold 2,964 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $80.00, for a total value 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 disclosure for this sale can be found here. Insiders have sold 29,053 shares of company stock worth $2,393,972 in the last quarter. Company insiders own 10.49% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SQ. SouthState Corp raised its holdings in shares of Block by 85.3% in the 3rd quarter. SouthState Corp now owns 391 shares of the technology company’s stock worth $26,000 after acquiring an additional 180 shares during the last quarter. True Wealth Design LLC increased its holdings in Block by 64.7% during the 3rd quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock worth $33,000 after purchasing an additional 194 shares in the last quarter. Unique Wealth Strategies LLC bought a new stake in Block during the 2nd quarter worth approximately $34,000. V Square Quantitative Management LLC purchased a new stake in shares of Block in the third quarter worth approximately $46,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Block in the second quarter valued at approximately $44,000. 70.44% of the stock is owned by institutional investors.

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.