Block (NYSE:SQ) Earns Positive Rating from Susquehanna

Susquehanna reissued their positive rating on shares of Block (NYSE:SQ) in a report published on Monday, Benzinga reports. The firm currently has a $100.00 target price on the technology company’s stock.

A number of other research firms have also recently weighed in on SQ. William Blair reissued a market perform rating on shares of Block in a research report on Friday, February 23rd. KeyCorp upped their price objective on shares of Block from $80.00 to $95.00 and gave the company an overweight rating in a research report on Wednesday, March 27th. BTIG Research raised shares of Block from a neutral rating to a buy rating and set a $85.00 price target on the stock in a research report on Tuesday, January 30th. 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 research report on Friday, February 23rd. Finally, Benchmark increased their price target on shares of Block from $89.00 to $99.00 and gave the stock a buy rating in a research report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $85.67.

Block Stock Down 1.7 %

Shares of NYSE SQ opened at $72.80 on Monday. Block has a 12-month low of $38.85 and a 12-month high of $87.52. The company has a market cap of $44.82 billion, a P/E ratio of 435.47, a P/E/G ratio of 2.23 and a beta of 2.55. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. The stock has a fifty day moving average price of $77.21 and a 200 day moving average price of $66.90.

Block (NYSE:SQ) last posted its quarterly earnings data on Thursday, February 22nd. The technology company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The company had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.69 billion. Block had a net margin of 0.04% and a return on equity of 0.63%. Research analysts anticipate that Block will post 1.02 EPS for the current fiscal year.

Insider Buying and Selling at Block

In other Block news, CAO Ajmere Dale sold 656 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $64.30, for a total value of $42,180.80. Following the sale, the chief accounting officer now owns 68,823 shares in the company, valued at $4,425,318.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Ajmere Dale sold 656 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $64.30, for a total transaction of $42,180.80. Following the transaction, the chief accounting officer now owns 68,823 shares in the company, valued at $4,425,318.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 transaction of $8,364,510.00. Following the transaction, the insider now owns 405,224 shares in the company, valued at approximately $26,521,910.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 363,801 shares of company stock worth $27,284,175. 10.79% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Montag A & Associates Inc. boosted its holdings in Block by 843.2% during the fourth quarter. Montag A & Associates Inc. now owns 349 shares of the technology company’s stock worth $27,000 after buying an additional 312 shares in the last quarter. Hexagon Capital Partners LLC boosted its holdings in Block by 89.6% during the third quarter. Hexagon Capital Partners LLC now owns 635 shares of the technology company’s stock worth $28,000 after buying an additional 300 shares in the last quarter. Riverview Trust Co bought a new stake in Block during the first quarter worth approximately $28,000. Front Row Advisors LLC boosted its holdings in Block by 67,500.0% during the third quarter. Front Row Advisors LLC now owns 676 shares of the technology company’s stock worth $30,000 after buying an additional 675 shares in the last quarter. Finally, 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 worth $32,000 after buying an additional 202 shares in the last quarter. Institutional investors and hedge funds own 70.44% of the company’s stock.

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.