In yesterday’s Wall Street session, Block Inc. (NYSE:SQ) shares traded at $65.09, down -1.74% from the previous session.
49 analysts cover Block Inc. (NYSE:SQ), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $114.62 and a low of $34.98, we find $89.00. Given the previous closing price of $66.24, this indicates a potential upside of 34.36 percent. SQ stock price is now 4.84% away from the 50-day moving average and -1.88% away from the 200-day moving average. The market capitalization of the company currently stands at $38.16B.
The stock has received a hold rating from 11 analysts and a buy rating from 30. Brokers who have rated the stock have averaged $85.95 as their price target over the next twelve months.
With the price target reduced from $93 to $63, CLSA Downgraded its rating from Buy to Underperform for Block Inc. (NYSE: SQ).
In other news, Summers Lawrence Henry, Director sold 3,668 shares of the company’s stock on May 30. The stock was sold for $215,170 at an average price of $58.66. Upon completion of the transaction, the Director now directly owns 22,133 shares in the company, valued at $1.44 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 22, CFO & COO Ahuja Amrita sold 3,369 shares of the business’s stock. A total of $200,826 was realized by selling the stock at an average price of $59.61. This leaves the insider owning 238,091 shares of the company worth $15.5 million. Insiders disposed of 1,570,437 shares of company stock worth roughly $102.22 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 DRAGONEER INVESTMENT GROUP, LLC during the first quarter worth $202,627,000. JERICHO CAPITAL ASSET MANAGEMENT L.P. invested $59,427,000 in shares of SQ during the first quarter. In the first quarter, SCGE MANAGEMENT, L.P. acquired a new stake in Block Inc. valued at approximately $59,264,000. CASTLE HOOK PARTNERS LP acquired a new stake in SQ for approximately $51,143,000. VOLORIDGE INVESTMENT MANAGEMENT, LLC purchased a new stake in SQ valued at around $51,034,000 in the second quarter. In total, there are 1,397 active investors with 67.50% ownership of the company’s stock.
On Thursday morning Block Inc. (NYSE: SQ) stock kicked off with the opening price of $66.37. During the past 12 months, Block Inc. has had a low of $51.34 and a high of $93.19. As of last week, the company has a debt-to-equity ratio of 0.26, a current ratio of 1.80, and a quick ratio of 1.80. The fifty day moving average price for SQ is $62.11 and a two-hundred day moving average price translates $66.30 for the stock.
The latest earnings results from Block Inc. (NYSE: SQ) was released for Mar, 2023. According to the Software – Infrastructure Company, earnings per share came in at $0.4, beating analysts’ expectations of $0.34 by 0.06. This compares to -$0.38 EPS in the same period last year. The net profit margin was -1.90% and return on equity was -2.10% for SQ. The company reported revenue of $4.99 billion for the quarter, compared to $3.96 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 25.99 percent. For the current quarter, analysts expect SQ to generate $5.11B 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. The company provides hardware products, including 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; Square Stand, which enables an iPad to be used as a payment terminal or full point of sale solution; Square Reader for contactless and chip that accepts EMV chip cards and NFC payments, enabling acceptance through Apple Pay, Google Pay, and other mobile wallets; and Square Reader for magstripe, which enables swiped transactions of magnetic-stripe cards by connecting with an iOS or Android smartphone or tablet through the headphone jack or Lightning connector. It also offers various commerce products, including Square for Restaurants; Square Appointments; Square for Retail; Square Point of Sale; Square Online; Square Online Checkout; Square Invoices; Square Virtual Terminal; Risk Manager; Order Manager; Payment application programming interfaces (APIs); and Commerce APIs. In addition, the company provides Cash App, an ecosystem of financial products and services that enables customers to store, send, receive, spend, or invest their money. It serves in the United States, Canada, Japan, Australia, New Zealand, the United Kingdom, Ireland, France, and Spain. 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.