Keefe, Bruyette & Woods Raises Block (NYSE:SQ) Price Target to $105.00

Block (NYSE:SQ) had its price objective lifted by Keefe, Bruyette & Woods from $80.00 to $105.00 in a report issued on Monday morning,Benzinga reports. The firm currently has a market perform rating on the technology company’s stock.

Other research analysts have also issued reports about the company. Canaccord Genuity Group raised their price target on Block from $95.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 price objective on shares of Block in a research note on Monday, November 11th. BNP Paribas cut shares of Block from an “outperform” rating to a “neutral” rating and set a $88.00 target price for the company. in a report on Wednesday, November 20th. The Goldman Sachs Group upped their price target on Block from $87.00 to $102.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Finally, New Street Research began coverage on Block in a research note on Monday, September 9th. They set a “neutral” rating and a $70.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, Block has an average rating of “Moderate Buy” and a consensus price target of $93.86.

Block Price Performance

Shares of NYSE SQ opened at $95.46 on Monday. 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 firm has a market capitalization of $59.17 billion, a PE ratio of 53.63, a P/E/G ratio of 1.31 and a beta of 2.50. Block has a 1-year low of $55.00 and a 1-year high of $99.26. The business’s fifty day moving average price is $79.49 and its two-hundred day moving average price is $69.77.

Insiders Place Their Bets

In other news, CAO Ajmere Dale sold 500 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $67.00, for a total transaction of $33,500.00. Following the transaction, the chief accounting officer now owns 90,460 shares of the company’s stock, valued at approximately $6,060,820. This represents a 0.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brian Grassadonia sold 1,884 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $65.41, for a total value of $123,232.44. Following the completion of the sale, the insider now owns 574,914 shares of the company’s stock, valued at approximately $37,605,124.74. This trade represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,918 shares of company stock valued at $2,666,147 in the last three months. Insiders own 10.49% of the company’s stock.

Hedge Funds Weigh In On Block

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Yoder Wealth Management Inc. increased its stake in shares of Block by 0.4% in the third quarter. Yoder Wealth Management Inc. now owns 39,688 shares of the technology company’s stock worth $2,664,000 after purchasing an additional 145 shares during the period. Nations Financial Group Inc. IA ADV grew its holdings in Block by 1.9% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 7,744 shares of the technology company’s stock valued at $520,000 after buying an additional 145 shares during the last quarter. Moser Wealth Advisors LLC increased its position in Block by 2.5% in the 3rd quarter. Moser Wealth Advisors LLC now owns 6,265 shares of the technology company’s stock worth $421,000 after buying an additional 153 shares during the period. Lindbrook Capital LLC lifted its holdings in shares of Block by 6.3% during the third quarter. Lindbrook Capital LLC now owns 2,592 shares of the technology company’s stock worth $174,000 after buying an additional 154 shares during the last quarter. Finally, Larson Financial Group LLC boosted its position in shares of Block by 14.8% in the third quarter. Larson Financial Group LLC now owns 1,192 shares of the technology company’s stock valued at $80,000 after acquiring an additional 154 shares during the period. Institutional investors and hedge funds own 70.44% of the company’s stock.

About Block

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.