Block, Inc. (NYSE:SQ) Receives $97.68 Consensus Target Price from Analysts

Shares of Block, Inc. (NYSE:SQ) have been given an average rating of “Moderate Buy” by the thirty-two brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and twenty-six have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $98.10.

A number of brokerages have commented on SQ. Macquarie upped their price objective on shares of Block from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. StockNews.com started coverage on shares of Block in a research report on Thursday. They issued a “hold” rating for the company. Barclays boosted their target price on Block from $100.00 to $112.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Wells Fargo & Company raised their price target on Block from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, Monness Crespi & Hardt raised Block from a “neutral” rating to a “buy” rating and set a $115.00 price objective on the stock in a report on Friday, December 13th.

Block Stock Performance

The stock has a market cap of $53.90 billion, a P/E ratio of 48.92, a P/E/G ratio of 0.79 and a beta of 2.51. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26. The company has a fifty day moving average of $89.68 and a 200 day moving average of $75.13. Block has a 12 month low of $55.00 and a 12 month high of $99.26.

Insider Transactions at Block

In other news, CFO Amrita Ahuja sold 1,502 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $86.52, for a total transaction of $129,953.04. Following the completion of the sale, the chief financial officer now owns 242,199 shares in the company, valued at approximately $20,955,057.48. The trade was a 0.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Ajmere Dale sold 1,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $80.00, for a total transaction of $80,000.00. Following 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 have sold a total of 29,981 shares of company stock worth $2,681,185 in the last three months. Company insiders own 10.49% of the company’s stock.

Hedge Funds Weigh In On Block

A number of hedge funds have recently made changes to their positions in the business. Key Client Fiduciary Advisors LLC raised its position in Block by 1.4% in the fourth quarter. Key Client Fiduciary Advisors LLC now owns 8,340 shares of the technology company’s stock valued at $709,000 after purchasing an additional 115 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Block by 48.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 418 shares of the technology company’s stock valued at $36,000 after buying an additional 136 shares during the period. Yoder Wealth Management Inc. boosted its holdings in Block by 0.4% in the 3rd quarter. Yoder Wealth Management Inc. now owns 39,688 shares of the technology company’s stock worth $2,664,000 after acquiring an additional 145 shares during the period. Nations Financial Group Inc. IA ADV boosted its holdings in Block by 1.9% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 7,744 shares of the technology company’s stock worth $520,000 after acquiring an additional 145 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in Block by 0.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 26,864 shares of the technology company’s stock valued at $2,283,000 after acquiring an additional 145 shares in the last quarter. Hedge funds and other institutional investors 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.