Block (NYSE:SQ) Price Target Raised to $105.00

Block (NYSE:SQ) had its price objective upped by Needham & Company LLC from $95.00 to $105.00 in a report issued on Friday morning, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other research analysts also recently issued reports about the stock. Truist Financial increased their target price on shares of Block from $90.00 to $100.00 and gave the company a buy rating in a research report on Friday, February 23rd. Citigroup lifted their price objective on shares of Block from $76.00 to $86.00 and gave the company a buy rating in a research note on Monday, February 26th. Royal Bank of Canada increased their price target on shares of Block from $77.00 to $88.00 and gave the stock an outperform rating in a report on Friday, February 23rd. Benchmark upped their price target on shares of Block from $89.00 to $99.00 and gave the stock a buy rating in a report on Thursday, April 4th. Finally, Robert W. Baird boosted their target price on Block from $98.00 to $100.00 and gave the stock an outperform rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $87.55.

Block Stock Up 5.8 %

Shares of SQ stock traded up $4.06 during trading hours on Friday, reaching $73.53. The company had a trading volume of 11,553,092 shares, compared to its average volume of 10,201,752. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.90 and a quick ratio of 1.90. The business has a fifty day simple moving average of $77.63 and a 200-day simple moving average of $68.33. Block has a 12 month low of $38.85 and a 12 month high of $87.52. The company has a market cap of $45.27 billion, a price-to-earnings ratio of 94.08, a price-to-earnings-growth ratio of 1.66 and a beta of 2.57.

Block (NYSE:SQ) last posted its quarterly earnings data on Thursday, February 22nd. The technology company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. The firm had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.69 billion. Block had a net margin of 2.18% and a return on equity of 2.07%. On average, research analysts expect that Block will post 1.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Brian Grassadonia sold 127,800 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $65.45, for a total transaction of $8,364,510.00. Following the completion of the sale, the insider now owns 405,224 shares in the company, valued at $26,521,910.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Brian Grassadonia sold 127,800 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $65.45, for a total transaction of $8,364,510.00. Following the completion of the sale, the insider now owns 405,224 shares of the company’s stock, valued at approximately $26,521,910.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Amrita Ahuja sold 2,581 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $64.30, for a total value of $165,958.30. Following the completion of the sale, the chief financial officer now owns 201,754 shares of the company’s stock, valued at $12,972,782.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 477,469 shares of company stock worth $34,963,585. 10.79% of the stock is owned by insiders.

Hedge Funds Weigh In On Block

Hedge funds have recently modified their holdings of the company. Wealthcare Advisory Partners LLC lifted its holdings in Block by 1.3% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 10,618 shares of the technology company’s stock worth $898,000 after purchasing an additional 139 shares in the last quarter. Financial Perspectives Inc boosted its holdings in shares of Block by 7.2% during the 1st quarter. Financial Perspectives Inc now owns 2,300 shares of the technology company’s stock valued at $195,000 after purchasing an additional 155 shares during the last quarter. Valley National Advisers Inc. grew 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 purchasing an additional 155 shares in the last quarter. Aaron Wealth Advisors LLC increased 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 purchasing an additional 157 shares during the last quarter. Finally, CAP Partners LLC lifted its position in shares of Block by 3.5% in the first quarter. CAP Partners LLC now owns 4,765 shares of the technology company’s stock worth $403,000 after buying an additional 163 shares in the last quarter. 70.44% of the stock is currently owned by institutional investors.

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.