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. The company also provides Square Point of Sale software; Cash App, which provides access to the financial system, allowing customers to electronically send, store, and spend money; Caviar, a food ordering platform for restaurants to offer food ordering, pickup and delivery, to their customers; and Square Capital that facilitates loans to sellers based on real-time payment and point-of-sale data. Square, Inc. was founded in 2009 and is headquartered in San Francisco, California.
Block Stock Down 2.2 %
Shares of NYSE:SQ traded down $1.97 on Friday, hitting $87.73. 31,022,633 shares of the company's stock were exchanged, compared to its average volume of 14,193,557. The firm's 50-day moving average is $71.37 and its 200 day moving average is $96.64. The company has a market capitalization of $50.89 billion, a PE ratio of -96.41 and a beta of 2.45. Block has a 1-year low of $56.01 and a 1-year high of $286.52. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.97 and a current ratio of 1.97.
Block (NYSE:SQ - Get Rating) last released its quarterly earnings data on Thursday, August 4th. The technology company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. The business had revenue of $4.41 billion during the quarter, compared to analysts' expectations of $4.33 billion. Block had a negative return on equity of 3.23% and a negative net margin of 3.00%. The business's quarterly revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 EPS. Sell-side analysts predict that Block will post -0.77 EPS for the current year.
Analysts Set New Price Targets
A number of brokerages have weighed in on SQ. Susquehanna decreased their price objective on shares of Block from $160.00 to $100.00 in a research report on Tuesday, July 19th. Cowen cut their target price on shares of Block from $188.00 to $148.00 in a research note on Friday, May 6th. Susquehanna Bancshares cut their target price on shares of Block from $160.00 to $100.00 and set a "positive" rating for the company in a research note on Tuesday, July 19th. Royal Bank of Canada boosted their target price on shares of Block from $91.00 to $95.00 in a research note on Friday. Finally, KeyCorp dropped their price objective on shares of Block from $180.00 to $80.00 and set an "overweight" rating for the company in a research note on Thursday, July 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, Block currently has a consensus rating of "Moderate Buy" and an average price target of $156.93.
Insider Transactions at Block
In other news, insider Alyssa Henry sold 30,770 shares of the company's stock in a transaction dated Wednesday, May 18th. The stock was sold at an average price of $83.38, for a total transaction of $2,565,602.60. Following the completion of the transaction, the insider now directly owns 433,543 shares of the company's stock, valued at approximately $36,148,815.34. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CAO Ajmere Dale sold 883 shares of the company's stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $62.63, for a total value of $55,302.29. Following the completion of the sale, the chief accounting officer now directly owns 48,797 shares of the company's stock, valued at approximately $3,056,156.11. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Alyssa Henry sold 30,770 shares of the company's stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $83.38, for a total value of $2,565,602.60. Following the completion of the sale, the insider now directly owns 433,543 shares of the company's stock, valued at $36,148,815.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 352,686 shares of company stock valued at $25,461,055. 11.52% of the stock is currently owned by corporate insiders.
