Block (NYSE:SQ) Price Target Raised to $102.00 at The Goldman Sachs Group

Block (NYSE:SQ) had its price objective boosted by stock analysts at The Goldman Sachs Group from $87.00 to $102.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 9.44% from the company’s current price.

Several other brokerages have also recently issued reports on SQ. UBS Group dropped their target price on Block from $100.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Keefe, Bruyette & Woods raised their price objective on shares of Block from $71.00 to $80.00 and gave the stock a “market perform” rating in a report on Friday, November 8th. Oppenheimer assumed coverage on shares of Block in a report on Tuesday, October 1st. They set a “market perform” rating for the company. Needham & Company LLC increased their price target on shares of Block from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $88.00 price objective on shares of Block in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $93.21.

Block Price Performance

NYSE SQ opened at $93.21 on Monday. The stock has a market capitalization of $57.77 billion, a price-to-earnings ratio of 52.36, a PEG ratio of 1.25 and a beta of 2.50. Block has a 1-year low of $55.00 and a 1-year high of $95.95. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07. The business’s fifty day moving average price is $77.04 and its 200-day moving average price is $69.00.

Insider Activity at Block

In other news, CFO Amrita Ahuja sold 6,661 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.43, for a total value of $609,015.23. Following the completion of the sale, the chief financial officer now owns 246,967 shares in the company, valued at approximately $22,580,192.81. This trade represents a 2.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Ajmere Dale sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $67.00, for a total value of $33,500.00. Following the transaction, the chief accounting officer now owns 90,460 shares of the company’s stock, valued at $6,060,820. This trade represents a 0.55 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,053 shares of company stock valued at $2,393,972. Insiders own 10.49% of the company’s stock.

Institutional Investors Weigh In On Block

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Swiss National Bank lifted its holdings in shares of Block by 0.5% in the 3rd quarter. Swiss National Bank now owns 1,651,886 shares of the technology company’s stock worth $110,891,000 after buying an additional 8,200 shares during the period. National Pension Service raised its holdings in shares of Block by 13.5% in the third quarter. National Pension Service now owns 1,083,113 shares of the technology company’s stock valued at $72,709,000 after acquiring an additional 128,832 shares in the last quarter. Baillie Gifford & Co. lifted its stake in Block by 1.5% in the third quarter. Baillie Gifford & Co. now owns 10,233,102 shares of the technology company’s stock worth $686,948,000 after acquiring an additional 147,873 shares during the period. Lone Pine Capital LLC grew its holdings in Block by 13.9% during the 2nd quarter. Lone Pine Capital LLC now owns 7,670,523 shares of the technology company’s stock worth $494,672,000 after acquiring an additional 934,588 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in Block by 2.7% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 541,204 shares of the technology company’s stock valued at $35,969,000 after purchasing an additional 14,163 shares during the period. Institutional investors own 70.44% of the company’s stock.

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.