The stock of Block Inc. (NYSE:SQ) last traded at $56.07, down -2.59% from the previous session.
Data from the available sources indicates that Block Inc. (NYSE:SQ) is covered by 43 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $110.00 and a low of $34.98, we find $88.00. Given the previous closing price of $57.56, this indicates a potential upside of 52.88 percent. SQ stock price is now -17.65% away from the 50-day moving average and -17.33% away from the 200-day moving average. The market capitalization of the company currently stands at $33.74B.
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In total, 11 analysts have assigned it a hold rating, and 26 have given it a buy rating. Brokers who have rated the stock have averaged $85.45 as their price target over the next twelve months.
With the price target reduced from $90 to $85, Truist maintained Buy rating for Block Inc. (NYSE: SQ).
In other news, Summers Lawrence Henry, Director sold 3,669 shares of the company’s stock on Jul 31. The stock was sold for $295,200 at an average price of $80.46. Upon completion of the transaction, the Director now directly owns 18,611 shares in the company, valued at $1.04 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 19, Counsel Lead Esperanza Chrysty sold 2,500 shares of the business’s stock. A total of $200,000 was realized by selling the stock at an average price of $80.00. This leaves the insider owning 65,472 shares of the company worth $3.67 million. Insiders disposed of 1,269,620 shares of company stock worth roughly $71.19 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 ATREIDES MANAGEMENT, LP during the first quarter worth $150,655,000. TWO SIGMA INVESTMENTS, LP invested $86,222,000 in shares of SQ during the first quarter. In the first quarter, POINT72 ASSET MANAGEMENT, L.P. acquired a new stake in Block Inc. valued at approximately $75,678,000. RENAISSANCE TECHNOLOGIES LLC acquired a new stake in SQ for approximately $72,908,000. TRIVEST ADVISORS LTD purchased a new stake in SQ valued at around $62,804,000 in the second quarter. In total, there are 1,361 active investors with 67.50% ownership of the company’s stock.
With an opening price of $57.81 on Tuesday morning, Block Inc. (NYSE: SQ) set off the trading day. During the past 12 months, Block Inc. has had a low of $51.34 and a high of $89.97. As of last week, the company has a debt-to-equity ratio of 0.23, a current ratio of 1.90, and a quick ratio of 1.90. The fifty day moving average price for SQ is $67.91 and a two-hundred day moving average price translates $67.83 for the stock.
The latest earnings results from Block Inc. (NYSE: SQ) was released for Jun, 2023. According to the Software – Infrastructure Company, earnings per share came in at $0.39, beating analysts’ expectations of $0.36 by 0.03. This compares to -$0.36 EPS in the same period last year. The net profit margin was -1.40% and return on equity was -1.60% for SQ. The company reported revenue of $5.53 billion for the quarter, compared to $4.4 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 25.67 percent. For the current quarter, analysts expect SQ to generate $5.42B in revenue.
