Block (NYSE:SQ) Price Target Raised to $90.00

Block (NYSE:SQ) had its price target lifted by Needham & Company LLC from $80.00 to $90.00 in a research note published on Friday,Benzinga reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

SQ has been the topic of a number of other research reports. Benchmark reiterated a “buy” rating and issued a $99.00 price objective on shares of Block in a research report on Friday, August 2nd. Oppenheimer assumed coverage on Block in a research report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Wells Fargo & Company lowered their price target on Block from $95.00 to $85.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Morgan Stanley lowered their price target on Block from $60.00 to $55.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 30th. Finally, William Blair upgraded Block to a “strong-buy” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $90.56.

Block Trading Down 0.9 %

Shares of SQ stock opened at $74.56 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.82 and a current ratio of 1.82. Block has a 52-week low of $50.86 and a 52-week high of $87.52. The company has a market capitalization of $45.90 billion, a PE ratio of 41.89, a price-to-earnings-growth ratio of 1.02 and a beta of 2.48. The business’s fifty day moving average is $68.86 and its 200 day moving average is $66.97.

Insider Buying and Selling

In related news, CFO Amrita Ahuja sold 5,935 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $65.53, for a total value of $388,920.55. Following the sale, the chief financial officer now directly owns 255,496 shares of the company’s stock, valued at $16,742,652.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Block news, CFO Amrita Ahuja sold 5,935 shares of Block stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $65.53, for a total transaction of $388,920.55. Following the sale, the chief financial officer now directly owns 255,496 shares of the company’s stock, valued at approximately $16,742,652.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Ajmere Dale sold 500 shares of Block stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $61.88, for a total value of $30,940.00. Following the sale, the chief accounting officer now directly owns 92,366 shares in the company, valued at approximately $5,715,608.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,214 shares of company stock valued at $1,637,932 over the last ninety days. 10.49% of the stock is owned by insiders.

Institutional Trading of Block

Large investors have recently bought and sold shares of the company. SouthState Corp boosted its position in Block by 85.3% during the 3rd quarter. SouthState Corp now owns 391 shares of the technology company’s stock valued at $26,000 after acquiring an additional 180 shares in the last quarter. LRI Investments LLC purchased a new position in shares of Block during the first quarter valued at approximately $34,000. Unique Wealth Strategies LLC purchased a new position in shares of Block during the second quarter valued at approximately $34,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Block during the second quarter valued at approximately $44,000. Finally, V Square Quantitative Management LLC purchased a new position in shares of Block during the third quarter valued at approximately $46,000. 70.44% of the stock is 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.