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Block (NYSE:SQ - Get Rating) had its target price decreased by analysts at Wells Fargo & Company from $110.00 to $99.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an "overweight" rating on the technology company's stock. Wells Fargo & Company's target price would indicate a potential upside of 45.97% from the stock's previous close.
A number of other brokerages also recently issued reports on SQ. Keefe, Bruyette & Woods decreased their price target on shares of Block from $150.00 to $100.00 in a research note on Monday, July 11th. Barclays decreased their price target on shares of Block from $150.00 to $130.00 and set an "overweight" rating for the company in a research note on Monday, August 8th. JPMorgan Chase & Co. cut their price objective on shares of Block from $150.00 to $107.00 in a report on Wednesday, July 20th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Block from $180.00 to $155.00 in a report on Monday, May 23rd. Finally, Truist Financial cut their price objective on shares of Block from $145.00 to $105.00 and set a "buy" rating on the stock in a report on Thursday, June 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirty-five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $150.73.Block Price Performance
Shares of NYSE SQ opened at $67.82 on Thursday. The firm has a 50-day simple moving average of $73.09 and a 200-day simple moving average of $91.00. The stock has a market capitalization of $39.34 billion, a price-to-earnings ratio of -74.53 and a beta of 2.45. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.24. Block has a 52 week low of $56.01 and a 52 week high of $270.16.
Block (NYSE:SQ - Get Rating) last released its quarterly earnings data on Thursday, August 4th. The technology company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.01. The firm had revenue of $4.41 billion during the quarter, compared to analysts' expectations of $4.33 billion. Block had a negative net margin of 3.00% and a negative return on equity of 2.52%. Block's revenue was down 5.8% compared to the same quarter last year. During the same period last year, the business earned $0.38 earnings per share. On average, equities analysts predict that Block will post -0.73 earnings per share for the current fiscal year. Insider Buying and Selling
In related news, insider Alyssa Henry sold 30,770 shares of the business's stock in a transaction dated Wednesday, June 22nd. The shares were sold at an average price of $60.14, for a total value of $1,850,507.80. Following the sale, the insider now directly owns 433,543 shares in the company, valued at approximately $26,073,276.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Alyssa Henry sold 30,770 shares of the business's stock in a transaction dated Wednesday, June 22nd. The shares were sold at an average price of $60.14, for a total value of $1,850,507.80. Following the completion of the transaction, the insider now owns 433,543 shares of the company's stock, valued at approximately $26,073,276.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Ajmere Dale sold 883 shares of the business's stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $62.63, for a total transaction of $55,302.29. Following the completion of the transaction, the chief accounting officer now directly owns 48,797 shares of the company's stock, valued at approximately $3,056,156.11. The disclosure for this sale can be found here. Insiders have sold 330,043 shares of company stock worth $23,561,860 in the last three months. Corporate insiders own 11.52% of the company's stock. Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Royal London Asset Management Ltd. increased its stake in shares of Block by 14.5% during the 2nd quarter. Royal London Asset Management Ltd. now owns 189,890 shares of the technology company's stock valued at $11,677,000 after acquiring an additional 24,011 shares during the last quarter. Prelude Capital Management LLC increased its position in Block by 1,646.0% during the 2nd quarter. Prelude Capital Management LLC now owns 14,254 shares of the technology company's stock worth $876,000 after purchasing an additional 15,176 shares in the last quarter. Stock Yards Bank & Trust Co. acquired a new stake in Block during the 2nd quarter worth approximately $206,000. Captrust Financial Advisors increased its position in Block by 6.0% during the 2nd quarter. Captrust Financial Advisors now owns 21,190 shares of the technology company's stock worth $1,302,000 after purchasing an additional 1,201 shares in the last quarter. Finally, SRS Capital Advisors Inc. increased its position in Block by 3,213.8% during the 2nd quarter. SRS Capital Advisors Inc. now owns 961 shares of the technology company's stock worth $59,000 after purchasing an additional 932 shares in the last quarter. Institutional investors and hedge funds own 62.26% of the company's stock. Block Company Profile (Get Rating)
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.Featured ArticlesGet a free copy of the StockNews.com research report on Block (SQ)GameStop Stock Just Flashed A Buy Signal 3 High Margin Chipmakers Bound to Recover3 Solar Stocks That Will Benefit From the Biden Tariff Holiday REV Group Has A Deep Moat In The World Of EVs Is G-III Apparel Group, Ltd. A Value Trap?
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