Block (NYSE:SQ) Price Target Raised to $95.00 at Royal Bank of Canada

Block (NYSE:SQGet Rating) had its price objective raised by Royal Bank of Canada from $91.00 to $95.00 in a report published on Friday, The Fly reports.

A number of other equities analysts have also recently weighed in on SQ. Cowen reduced their price target on shares of Block from $188.00 to $148.00 in a research report on Friday, May 6th. BTIG Research reduced their price target on shares of Block from $230.00 to $175.00 in a research report on Friday, May 6th. The Goldman Sachs Group cut their price objective on shares of Block from $173.00 to $152.00 and set a buy rating on the stock in a research report on Monday, May 9th. BMO Capital Markets cut their price objective on shares of Block from $126.00 to $117.00 and set a buy rating on the stock in a research report on Friday, May 20th. Finally, Jefferies Financial Group cut their price objective on shares of Block from $155.00 to $140.00 in a research report on Wednesday, May 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirty-five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $156.93.

Block Trading Down 2.2 %

Shares of Block stock opened at $87.73 on Friday. Block has a fifty-two week low of $56.01 and a fifty-two week high of $286.52. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.97 and a quick ratio of 1.97. The firm has a 50 day simple moving average of $71.37 and a 200 day simple moving average of $96.86.

Block (NYSE:SQGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The technology company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. Block had a negative net margin of 3.00% and a negative return on equity of 3.23%. The firm had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.33 billion. During the same period last year, the firm earned $0.38 earnings per share. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. On average, analysts anticipate that Block will post -0.77 earnings per share for the current fiscal year.

Insider Transactions at Block

In related news, CAO Ajmere Dale sold 883 shares of the stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $62.63, for a total value of $55,302.29. Following the completion of the transaction, the chief accounting officer now owns 48,797 shares of the company’s stock, valued at approximately $3,056,156.11. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Alyssa Henry sold 30,770 shares of the stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $83.38, for a total value of $2,565,602.60. Following the completion of the transaction, the insider now owns 433,543 shares of the company’s stock, valued at approximately $36,148,815.34. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Ajmere Dale sold 883 shares of the stock in a transaction that occurred on 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. In the last 90 days, insiders sold 352,686 shares of company stock valued at $25,461,055. Company insiders own 11.52% of the company’s stock.

Hedge Funds Weigh In On Block

Several institutional investors and hedge funds have recently added to or reduced their stakes in SQ. 1832 Asset Management L.P. increased its position in shares of Block by 6,085.0% during the first quarter. 1832 Asset Management L.P. now owns 1,805,100 shares of the technology company’s stock worth $241,508,000 after buying an additional 1,775,915 shares during the period. Loomis Sayles & Co. L P increased its position in shares of Block by 12.4% during the second quarter. Loomis Sayles & Co. L P now owns 7,221,371 shares of the technology company’s stock worth $443,826,000 after buying an additional 796,675 shares during the period. Nepsis Inc. acquired a new stake in shares of Block during the first quarter worth $17,434,000. ST Germain D J Co. Inc. increased its position in shares of Block by 141.4% during the first quarter. ST Germain D J Co. Inc. now owns 209,029 shares of the technology company’s stock worth $28,344,000 after buying an additional 122,440 shares during the period. Finally, Perfromance Wealth Partners LLC acquired a new stake in shares of Block during the fourth quarter worth $17,046,000. 54.56% of the stock is currently owned by institutional investors and hedge funds.

About Block

(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.

See Also

The Fly logo

Analyst Recommendations for Block (NYSE:SQ)

Receive News & Ratings for Block Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Block and related companies with MarketBeat.com's FREE daily email newsletter.