The stock of Block Inc. (NYSE:SQ) last traded at $61.85, down -6.03% from the previous session.
Data from the available sources indicates that Block Inc. (NYSE:SQ) is covered by 47 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $150.00 and a low of $51.00, we find $85.00. Given the previous closing price of $65.82, this indicates a potential upside of 29.14 percent. SQ stock price is now 2.09% away from the 50-day moving average and -26.46% away from the 200-day moving average. The market capitalization of the company currently stands at $38.21B.
In total, 11 analysts have assigned it a hold rating, and 29 have given it a buy rating. Brokers who have rated the stock have averaged $88.13 as their price target over the next twelve months.
With the price target maintained at $100, Macquarie recently Upgraded its rating from Neutral to Outperform for Block Inc. (NYSE: SQ). On September 22, 2022, Mizuho Downgraded its previous ‘Buy’ rating to ‘Neutral’ on the stock reducing its target price from $125 to quote $57, while ‘SMBC Nikko’ rates the stock as ‘Neutral’.
In other news, Henry Alyssa, Square Lead sold 30,769 shares of the company’s stock on Nov 16. The stock was sold for $2,206,361 at an average price of $71.71. Upon completion of the transaction, the Square Lead now directly owns 422,617 shares in the company, valued at $26.14 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 09, Square Lead Henry Alyssa sold 30,769 shares of the business’s stock. A total of $1,817,173 was realized by selling the stock at an average price of $59.06. This leaves the insider owning 422,615 shares of the company worth $26.14 million. Insiders disposed of 1,342,895 shares of company stock worth roughly $83.06 million over the past 1 year. A total of 0.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SQ stock. A new stake in Block Inc. shares was purchased by WHALE ROCK CAPITAL MANAGEMENT LLC during the first quarter worth $99,597,000. D1 CAPITAL PARTNERS L.P. invested $88,446,000 in shares of SQ during the first quarter. In the first quarter, SAMLYN CAPITAL, LLC acquired a new stake in Block Inc. valued at approximately $31,176,000. CLEAR STREET LLC acquired a new stake in SQ for approximately $31,066,000. SCHONFELD STRATEGIC ADVISORS LLC purchased a new stake in SQ valued at around $24,128,000 in the second quarter. In total, there are 1,434 active investors with 67.60% ownership of the company’s stock.
During the past 12 months, Block Inc. has had a low of $51.34 and a high of $229.99. As of last week, the company has a debt-to-equity ratio of 0.28, a current ratio of 1.90, and a quick ratio of 1.80. The fifty day moving average price for SQ is $60.59 and a two-hundred day moving average price translates $84.11 for the stock.
The latest earnings results from Block Inc. (NYSE: SQ) was released for Jun, 2022. According to the Software – Infrastructure Company, earnings per share came in at $0.18, beating analysts’ expectations of $0.17 by 0.01. This compares to -$0.01 EPS in the same period last year. The net profit margin was -3.00% and return on equity was -3.70% for SQ. The company reported revenue of $4.52 billion for the quarter, compared to $3.84 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 17.45 percent. For the current quarter, analysts expect SQ to generate $4.49B in revenue.
Block Inc.(SQ) Company Profile
Block, Inc., together with its subsidiaries, creates tools that enables sellers to accept card payments and provides reporting and analytics, and next-day settlement. It provides hardware products, including Magstripe reader, which enables swiped transactions of magnetic stripe cards; Contactless and chip reader that accepts Europay, MasterCard, and Visa (EMV) chip cards and Near Field Communication payments; Square Stand, which enables an iPad to be used as a payment terminal or full point of sale solution; Square Register that combines its hardware, point-of-sale software, and payments technology; Square Terminal, a payments device and receipt printer to replace traditional keypad terminals, which accepts tap, dip, and swipe payments. The company also offers various software products, including Square Point of Sale; Square Appointments; Square for Retail; Square for Restaurants; Square Online and Square Online Checkout; Square Invoices; Square Virtual Terminal; Square Team Management; Square Contracts; Square Loyalty, Marketing, and Gift Cards; and Square Dashboard. In addition, it offers a developer platform, which includes application programming interfaces and software development kits. Further, the company provides Cash App, which enables to send, spend, and store money; and Weebly that offers customers website hosting and domain name registration solutions. It serves in the United States, Canada, Japan, Australia, Ireland, France, Spain, and the United Kingdom. The company was formerly known as Square, Inc. and changed its name to Block, Inc. in December 2021. Block, Inc. was incorporated in 2009 and is based in San Francisco, California.