TD Cowen Increases Block (NYSE:SQ) Price Target to $92.00

Block (NYSE:SQGet Free Report) had its price target upped by equities research analysts at TD Cowen from $90.00 to $92.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. TD Cowen’s price target would indicate a potential upside of 32.43% from the stock’s previous close.

Several other equities analysts also recently issued reports on the company. Mizuho boosted their price objective on Block from $99.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Seaport Res Ptn upgraded Block from a “neutral” rating to a “buy” rating in a research report on Friday, February 23rd. Piper Sandler reissued an “overweight” rating and set a $88.00 price target (up from $86.00) on shares of Block in a report on Friday, February 23rd. Keefe, Bruyette & Woods upped their price objective on shares of Block from $74.00 to $78.00 and gave the stock a “market perform” rating in a report on Friday, February 23rd. Finally, Morgan Stanley reissued an “underweight” rating and set a $60.00 target price (down previously from $62.00) on shares of Block in a research note on Thursday, April 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $87.42.

View Our Latest Analysis on SQ

Block Stock Performance

SQ stock opened at $69.47 on Friday. Block has a 1 year low of $38.85 and a 1 year high of $87.52. The stock has a market capitalization of $42.77 billion, a price-to-earnings ratio of 90.22, a PEG ratio of 1.92 and a beta of 2.57. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 1.90. The stock’s fifty day moving average is $77.63 and its two-hundred day moving average is $68.16.

Block (NYSE:SQGet Free Report) last released its quarterly earnings data on Thursday, February 22nd. The technology company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.69 billion. Block had a net margin of 2.18% and a return on equity of 2.07%. On average, research analysts predict that Block will post 1.29 EPS for the current year.

Insider Buying and Selling

In other Block news, insider Brian Grassadonia sold 127,800 shares of Block stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $65.45, for a total value of $8,364,510.00. Following the completion of the sale, the insider now directly owns 405,224 shares in the company, valued at $26,521,910.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Ajmere Dale sold 500 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $84.75, for a total transaction of $42,375.00. Following the completion of the sale, the chief accounting officer now owns 68,323 shares in the company, valued at approximately $5,790,374.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Brian Grassadonia sold 127,800 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $65.45, for a total value of $8,364,510.00. Following the completion of the transaction, the insider now directly owns 405,224 shares in the company, valued at $26,521,910.80. 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. Insiders own 10.79% of the company’s stock.

Institutional Investors Weigh In On Block

A number of large investors have recently added to or reduced their stakes in the stock. Montag A & Associates Inc. raised its position in shares of Block by 843.2% in the fourth quarter. Montag A & Associates Inc. now owns 349 shares of the technology company’s stock valued at $27,000 after purchasing an additional 312 shares during the period. Riverview Trust Co bought a new position in Block in the 1st quarter worth $28,000. Front Row Advisors LLC lifted its position in Block by 67,500.0% during the 3rd quarter. Front Row Advisors LLC now owns 676 shares of the technology company’s stock worth $30,000 after acquiring an additional 675 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Block by 38.4% during the third quarter. Larson Financial Group LLC now owns 728 shares of the technology company’s stock valued at $32,000 after acquiring an additional 202 shares during the period. Finally, Tidemark LLC acquired a new stake in shares of Block in the fourth quarter valued at about $32,000. Institutional investors own 70.44% of the company’s stock.

Block Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Block (NYSE:SQ)

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