Mizuho Raises Block (NYSE:SQ) Price Target to $106.00

Block (NYSE:SQ - Free Report) had its price target raised by Mizuho from $99.00 to $106.00 in a report published on Wednesday, Marketbeat Ratings reports. The brokerage currently has a buy rating on the technology company's stock.

SQ has been the subject of a number of other reports. Seaport Res Ptn raised shares of Block from a neutral rating to a buy rating in a research note on Friday, February 23rd. Citigroup upped their target price on Block from $76.00 to $86.00 and gave the company a buy rating in a report on Monday, February 26th. Piper Sandler reiterated an overweight rating and issued a $88.00 target price (up previously from $86.00) on shares of Block in a report on Friday, February 23rd. Evercore ISI reiterated an in-line rating and issued a $75.00 target price on shares of Block in a report on Tuesday, March 26th. Finally, Morgan Stanley reiterated an underweight rating and issued a $60.00 target price (down previously from $62.00) on shares of Block in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $83.94.

Block Trading Down 1.9 %

SQ stock traded down $1.50 during mid-day trading on Wednesday, reaching $78.48. 4,954,853 shares of the stock traded hands, compared to its average volume of 10,417,374. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. Block has a 52-week low of $38.85 and a 52-week high of $87.52. The company has a market cap of $48.32 billion, a P/E ratio of 439.59, a P/E/G ratio of 2.31 and a beta of 2.55. The stock's fifty day moving average is $75.52 and its 200-day moving average is $64.63.

Block (NYSE:SQ - Get Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The technology company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.01. Block had a net margin of 0.04% and a return on equity of 0.63%. The company had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.69 billion. As a group, sell-side analysts expect that Block will post 1.03 earnings per share for the current year.

Insider Activity

In other news, insider Brian Grassadonia sold 127,800 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $65.45, for a total value of $8,364,510.00. Following the completion of the sale, the insider now directly owns 405,224 shares of the company's stock, valued at $26,521,910.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Brian Grassadonia sold 127,800 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $65.45, for a total value of $8,364,510.00. Following the completion of the sale, the insider now directly owns 405,224 shares of the company's stock, valued at $26,521,910.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Ajmere Dale sold 500 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $84.75, for a total value of $42,375.00. Following the completion of the sale, the chief accounting officer now directly owns 68,323 shares of the company's stock, valued at $5,790,374.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 363,801 shares of company stock valued at $27,284,175. 10.79% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SQ. Montag A & Associates Inc. lifted its position in Block by 843.2% in the fourth quarter. Montag A & Associates Inc. now owns 349 shares of the technology company's stock worth $27,000 after purchasing an additional 312 shares during the period. Hexagon Capital Partners LLC lifted its position in Block by 89.6% in the third quarter. Hexagon Capital Partners LLC now owns 635 shares of the technology company's stock worth $28,000 after purchasing an additional 300 shares during the period. Front Row Advisors LLC lifted its position in Block by 67,500.0% in the third quarter. Front Row Advisors LLC now owns 676 shares of the technology company's stock worth $30,000 after purchasing an additional 675 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in Block in the first quarter worth $31,000. Finally, Larson Financial Group LLC lifted its position in Block by 38.4% in the third quarter. Larson Financial Group LLC now owns 728 shares of the technology company's stock worth $32,000 after purchasing an additional 202 shares during the period. 70.44% of the stock is owned by institutional investors.

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.