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

Block, Inc. (NYSE:SQ) has received a consensus recommendation of “Moderate Buy” from the thirty-two brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-six have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $98.10.

Several equities analysts have recently commented on the company. William Blair reiterated an “outperform” rating on shares of Block in a research note on Friday, November 15th. Sanford C. Bernstein increased their price objective on shares of Block from $90.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Piper Sandler reissued an “overweight” rating and issued a $83.00 target price on shares of Block in a research report on Monday, November 11th. Monness Crespi & Hardt raised shares of Block from a “neutral” rating to a “buy” rating and set a $115.00 price target on the stock in a research report on Friday, December 13th. Finally, Oppenheimer upgraded Block from a “market perform” rating to an “outperform” rating and set a $115.00 price target for the company in a research note on Thursday, December 19th.

Insider Activity

In related news, CFO Amrita Ahuja sold 1,502 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $86.52, for a total value of $129,953.04. Following the sale, the chief financial officer now directly owns 242,199 shares in the company, valued at $20,955,057.48. The trade was a 0.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Ajmere Dale sold 1,000 shares of the firm’s 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 owns 88,791 shares of the company’s stock, valued at $7,103,280. The trade was a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,981 shares of company stock worth $2,681,185 over the last 90 days. 10.49% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Block

Several large investors have recently modified their holdings of the stock. Key Client Fiduciary Advisors LLC lifted its holdings in shares of Block by 1.4% during 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 last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Block by 48.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 418 shares of the technology company’s stock worth $36,000 after buying an additional 136 shares during the period. Yoder Wealth Management Inc. lifted its stake in Block by 0.4% during the third quarter. Yoder Wealth Management Inc. now owns 39,688 shares of the technology company’s stock valued at $2,664,000 after buying an additional 145 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its holdings in shares of Block by 1.9% in the third quarter. Nations Financial Group Inc. IA ADV now owns 7,744 shares of the technology company’s stock worth $520,000 after buying an additional 145 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Block by 0.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 26,864 shares of the technology company’s stock worth $2,283,000 after acquiring an additional 145 shares in the last quarter. 70.44% of the stock is owned by institutional investors.

Block Stock Performance

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

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.