Block (NYSE:SQ) Price Target Raised to $108.00 at Citigroup

by · The Markets Daily

Block (NYSE:SQ – Free Report) had its price target hoisted by Citigroup from $90.00 to $108.00 in a research note issued to investors on Tuesday, Marketbeat.com reports. The brokerage currently has a buy rating on the technology company’s stock.

SQ has been the topic of a number of other reports. Royal Bank of Canada reissued an “outperform” rating and issued a $88.00 price target on shares of Block in a research note on Monday, October 21st. William Blair reiterated an “outperform” rating on shares of Block in a report on Friday, November 15th. Morgan Stanley lifted their price objective on Block from $60.00 to $65.00 and gave the stock an “underweight” rating in a report on Wednesday, December 18th. Piper Sandler reiterated an “overweight” rating and issued a $83.00 price target on shares of Block in a report on Monday, November 11th. Finally, Sanford C. Bernstein boosted their price target on Block from $90.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $97.35.

View Our Latest Stock Analysis on SQ

Block Stock Up 0.5 %

SQ opened at $82.45 on Tuesday. The business’s fifty day simple moving average is $88.99 and its 200 day simple moving average is $74.36. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26. Block has a 52 week low of $55.00 and a 52 week high of $99.26. The firm has a market cap of $51.10 billion, a P/E ratio of 46.32, a PEG ratio of 1.23 and a beta of 2.51.

Insider Activity

In other news, CAO Ajmere Dale sold 1,000 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $80.00, for a total transaction of $80,000.00. Following the transaction, the chief accounting officer now owns 88,791 shares of the company’s stock, valued at approximately $7,103,280. This represents a 1.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Chrysty Esperanza sold 2,964 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $80.00, for a total value of $237,120.00. Following the transaction, the insider now directly owns 88,607 shares in the company, valued at approximately $7,088,560. This represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,981 shares of company stock valued at $2,681,185 over the last three months. Insiders own 10.49% of the company’s stock.

Institutional Investors Weigh In On Block

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Yoder Wealth Management Inc. lifted its holdings in Block by 0.4% during the third quarter. Yoder Wealth Management Inc. now owns 39,688 shares of the technology company’s stock worth $2,664,000 after acquiring an additional 145 shares in the last quarter. Nations Financial Group Inc. IA ADV increased its position in shares of Block by 1.9% in the third quarter. Nations Financial Group Inc. IA ADV now owns 7,744 shares of the technology company’s stock valued at $520,000 after acquiring an additional 145 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Block by 0.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 26,864 shares of the technology company’s stock valued at $2,283,000 after acquiring an additional 145 shares during the last quarter. Rosenberg Matthew Hamilton increased its position in Block by 18.3% during the fourth quarter. Rosenberg Matthew Hamilton now owns 982 shares of the technology company’s stock worth $83,000 after buying an additional 152 shares during the last quarter. Finally, Moser Wealth Advisors LLC grew its position in shares of Block by 2.5% in the third quarter. Moser Wealth Advisors LLC now owns 6,265 shares of the technology company’s stock valued at $421,000 after purchasing an additional 153 shares during the last quarter. 70.44% of the stock is owned by institutional investors and hedge funds.

Block Company Profile

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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.

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