Block (NYSE:SQ) Earns Hold Rating from Analysts at StockNews.com

Stock analysts at StockNews.com began coverage on shares of Block (NYSE:SQ) in a report released on Saturday. The firm set a “hold” rating on the technology company’s stock.

A number of other equities analysts have also commented on SQ. Macquarie raised their target price 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. Citigroup lifted their target price on Block from $90.00 to $108.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Raymond James raised Block from a “market perform” rating to an “outperform” rating and set a $115.00 price target on the stock in a research report on Friday, January 3rd. Piper Sandler restated an “overweight” rating and issued a $83.00 price objective on shares of Block in a report on Monday, November 11th. Finally, Barclays increased their target price on shares of Block from $100.00 to $112.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $98.10.

Block Stock Performance

The company has a market capitalization of $53.90 billion, a PE ratio of 48.92, a PEG ratio of 0.79 and a beta of 2.51. Block has a 1-year low of $55.00 and a 1-year high of $99.26. The business has a 50 day moving average of $89.68 and a 200-day moving average of $75.13. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26.

Insider Activity

In other Block news, insider Brian Grassadonia sold 8,328 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $91.18, for a total transaction of $759,347.04. Following the completion of the transaction, the insider now directly owns 563,894 shares of the company’s stock, valued at approximately $51,415,854.92. This trade represents a 1.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Amrita Ahuja sold 1,502 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were 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 directly owns 242,199 shares in the company, valued at $20,955,057.48. This trade represents a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,017 shares of company stock valued at $2,364,065 over the last ninety days. 10.49% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SQ. SouthState Corp grew its stake in shares of Block by 85.3% during the 3rd quarter. SouthState Corp now owns 391 shares of the technology company’s stock worth $26,000 after purchasing an additional 180 shares during the period. Versant Capital Management Inc boosted its holdings in Block by 67.7% during the fourth quarter. Versant Capital Management Inc now owns 394 shares of the technology company’s stock worth $33,000 after buying an additional 159 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in Block by 48.2% during the fourth 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. True Wealth Design LLC grew its position in Block by 64.7% during the third quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock valued at $33,000 after buying an additional 194 shares during the period. Finally, V Square Quantitative Management LLC purchased a new position in Block in the third quarter valued at $46,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Block Company Profile

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.