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

Block, Inc. (NYSE:SQ) has been assigned a consensus rating of “Moderate Buy” from the thirty-one analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $87.34.

SQ has been the topic of a number of analyst reports. BMO Capital Markets upped their price target on shares of Block from $92.00 to $93.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft upped their target price on shares of Block from $90.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Susquehanna reissued a “positive” rating and set a $100.00 price target on shares of Block in a research report on Wednesday, June 26th. Wells Fargo & Company lowered their price objective on Block from $95.00 to $85.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, William Blair raised Block to a “strong-buy” rating in a report on Wednesday, July 31st.

Block Price Performance

Shares of SQ opened at $66.49 on Friday. Block has a fifty-two week low of $38.85 and a fifty-two week high of $87.52. The firm’s 50-day simple moving average is $63.94 and its two-hundred day simple moving average is $68.78. The stock has a market cap of $41.03 billion, a PE ratio of 86.35, a price-to-earnings-growth ratio of 1.18 and a beta of 2.49. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.82 and a current ratio of 1.82.

Block (NYSE:SQ) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.09. Block had a return on equity of 3.77% and a net margin of 3.47%. The company had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.27 billion. During the same quarter last year, the company earned $0.40 EPS. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. Analysts anticipate that Block will post 1.72 earnings per share for the current fiscal year.

Insider Activity at Block

In other Block news, insider Chrysty Esperanza sold 2,500 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $70.00, for a total value of $175,000.00. Following the completion of the sale, the insider now owns 92,048 shares in the company, valued at $6,443,360. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CAO Ajmere Dale sold 471 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $64.37, for a total value of $30,318.27. Following the completion of the transaction, the chief accounting officer now owns 92,866 shares of the company’s stock, valued at approximately $5,977,784.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Chrysty Esperanza sold 2,500 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $70.00, for a total value of $175,000.00. Following the completion of the sale, the insider now owns 92,048 shares of the company’s stock, valued at approximately $6,443,360. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,179 shares of company stock worth $1,833,962. Corporate 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 SQ. Wealthcare Advisory Partners LLC raised its stake in Block by 1.3% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 10,618 shares of the technology company’s stock valued at $898,000 after purchasing an additional 139 shares during the period. Financial Perspectives Inc raised its position in shares of Block by 7.2% during the first quarter. Financial Perspectives Inc now owns 2,300 shares of the technology company’s stock valued at $195,000 after buying an additional 155 shares during the last quarter. Valley National Advisers Inc. raised its position in shares of Block by 25.4% during the first quarter. Valley National Advisers Inc. now owns 765 shares of the technology company’s stock valued at $64,000 after buying an additional 155 shares during the last quarter. Aaron Wealth Advisors LLC lifted its holdings in shares of Block by 3.4% in the first quarter. Aaron Wealth Advisors LLC now owns 4,831 shares of the technology company’s stock worth $409,000 after buying an additional 157 shares in the last quarter. Finally, CAP Partners LLC boosted its position in shares of Block by 3.5% during the first quarter. CAP Partners LLC now owns 4,765 shares of the technology company’s stock worth $403,000 after acquiring an additional 163 shares during the last quarter. 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.