Sign up for MarketBeat All Access to gain access to MarketBeat’s full suite of research tools:
Block, Inc. (NYSE:SQ – Get Rating) – Equities researchers at Jefferies Financial Group increased their Q2 2023 EPS estimates for Block in a research note issued on Thursday, November 17th. Jefferies Financial Group analyst T. Williams now anticipates that the technology company will earn $0.09 per share for the quarter, up from their previous forecast of $0.06. The consensus estimate for Block’s current full-year earnings is ($0.70) per share. Jefferies Financial Group also issued estimates for Block’s Q3 2023 earnings at $0.10 EPS and FY2023 earnings at $0.34 EPS.
A number of other brokerages have also weighed in on SQ. Credit Suisse Group cut their target price on shares of Block to $105.00 in a research report on Thursday, October 13th. Robert W. Baird cut their target price on shares of Block from $90.00 to $58.00 in a research report on Wednesday, October 12th. Atlantic Securities cut their target price on shares of Block from $110.00 to $75.00 and set an “overweight” rating for the company in a research report on Wednesday, October 12th. StockNews.com assumed coverage on shares of Block in a research report on Wednesday, October 12th. They issued a “sell” rating for the company. Finally, Evercore ISI lowered shares of Block from an “outperform” rating to an “underperform” rating and cut their price objective for the company from $120.00 to $55.00 in a research report on Wednesday, September 14th. Two analysts have rated the stock with a sell rating, six have given a hold rating and thirty-one have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $115.45.
Block Price Performance
Shares of NYSE:SQ opened at $67.99 on Friday. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $40.66 billion, a PE ratio of -73.11 and a beta of 2.37. Block has a twelve month low of $51.34 and a twelve month high of $237.82. The company has a 50-day moving average price of $60.75 and a two-hundred day moving average price of $70.47.
Block (NYSE:SQ – Get Rating) last posted its quarterly earnings results on Thursday, November 3rd. The technology company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.16. The company had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.48 billion. Block had a negative net margin of 2.97% and a negative return on equity of 2.10%.
Insider Transactions at Block
In other news, insider Alyssa Henry sold 30,769 shares of the firm’s stock in a transaction that occurred on Wednesday, October 12th. The shares were sold at an average price of $53.71, for a total value of $1,652,602.99. Following the transaction, the insider now owns 422,615 shares in the company, valued at $22,698,651.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Alyssa Henry sold 30,769 shares of Block stock in a transaction on Wednesday, October 12th. The shares were sold at an average price of $53.71, for a total value of $1,652,602.99. Following the sale, the insider now owns 422,615 shares in the company, valued at $22,698,651.65. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Ajmere Dale sold 875 shares of Block stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $54.61, for a total transaction of $47,783.75. Following the completion of the sale, the chief accounting officer now owns 47,922 shares in the company, valued at approximately $2,617,020.42. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 351,198 shares of company stock worth $21,272,681. Insiders own 11.52% of the company’s stock.
Institutional Trading of Block
A number of hedge funds have recently modified their holdings of SQ. Truepoint Inc. purchased a new position in shares of Block in the 2nd quarter worth about $313,000. abrdn plc raised its position in shares of Block by 7.9% in the 2nd quarter. abrdn plc now owns 66,003 shares of the technology company’s stock worth $4,069,000 after purchasing an additional 4,808 shares during the last quarter. Glassman Wealth Services raised its position in shares of Block by 42.3% in the 2nd quarter. Glassman Wealth Services now owns 1,264 shares of the technology company’s stock worth $78,000 after purchasing an additional 376 shares during the last quarter. Johnson Financial Group LLC raised its position in shares of Block by 41.6% in the 1st quarter. Johnson Financial Group LLC now owns 40,421 shares of the technology company’s stock worth $5,481,000 after purchasing an additional 11,875 shares during the last quarter. Finally, Dakota Wealth Management purchased a new position in shares of Block in the 2nd quarter worth about $238,000. Institutional investors own 62.26% of the company’s stock.
Block Company Profile
(Get Rating)
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.
Recommended Stories
- Get a free copy of the StockNews.com research report on Block (SQ)
- Verra Mobility Stock Has Returned Back to the Station
- Does ASML’s November Rally Have Staying Power?
- Is Advance Auto Parts a Buy After its Earnings Crash?
- BJ’s Wholesale Club: Beware The Sell-Side
- The Next Catalyst For Mullen Automotive Stock Is December 23rd
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Block, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Block wasn’t on the list.
While Block currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Complete the form below to receive the latest headlines and analysts’ recommendations for your stocks with our free daily email newsletter:
Sign up for MarketBeat All Access to gain access to MarketBeat’s full suite of research tools:
View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.
Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat’s trending stocks report.
Identify stocks that meet your criteria using seven unique stock screeners. See what’s happening in the market right now with MarketBeat’s real-time news feed. Export data to Excel for your own analysis.
As Featured By:
326 E 8th St #105, Sioux Falls, SD 57103
[email protected]
(844) 978-6257
© American Consumer News, LLC dba MarketBeat® 2010-2022. All rights reserved.
© 2022 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart’s disclaimer.
