Deutsche Bank Aktiengesellschaft Raises Block (NYSE:SQ) Price Target to $98.00

Block (NYSE:SQ) had its price target hoisted by Deutsche Bank Aktiengesellschaft from $90.00 to $98.00 in a report released on Friday, MarketBeat reports. The firm currently has a buy rating on the technology company’s stock.

SQ has been the subject of a number of other research reports. Benchmark restated a buy rating and set a $99.00 price target on shares of Block in a report on Friday, May 3rd. Citigroup raised their price target on shares of Block from $86.00 to $90.00 and gave the stock a buy rating in a report on Monday, May 6th. Robert W. Baird raised their price target on shares of Block from $98.00 to $100.00 and gave the stock an outperform rating in a report on Friday, May 3rd. Wedbush restated an outperform rating and set a $90.00 price target on shares of Block in a report on Friday, May 3rd. Finally, Wolfe Research raised their price target on shares of Block from $95.00 to $100.00 and gave the stock an outperform rating in a report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $87.33.

Block Stock Up 4.8 %

SQ stock opened at $72.07 on Friday. The company has a market cap of $44.47 billion, a price-to-earnings ratio of 93.60, a PEG ratio of 1.61 and a beta of 2.52. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.16. Block has a 12 month low of $38.85 and a 12 month high of $87.52. The firm has a 50-day moving average of $66.27 and a two-hundred day moving average of $70.72.

Block (NYSE:SQ) last released its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.32. The company had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $5.75 billion. Block had a net margin of 2.18% and a return on equity of 2.04%. As a group, analysts forecast that Block will post 1.28 earnings per share for the current fiscal year.

Insider Transactions at Block

In related news, insider Brian Grassadonia sold 113,668 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $67.56, for a total value of $7,679,410.08. Following the completion of the sale, the insider now directly owns 603,861 shares of the company’s stock, valued at $40,796,849.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CAO Ajmere Dale sold 1,278 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $71.26, for a total value of $91,070.28. Following the completion of the sale, the chief accounting officer now directly owns 93,337 shares of the company’s stock, valued at $6,651,194.62. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Brian Grassadonia sold 113,668 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $67.56, for a total transaction of $7,679,410.08. Following the completion of the sale, the insider now directly owns 603,861 shares of the company’s stock, valued at $40,796,849.16. The disclosure for this sale can be found here. In the last three months, insiders sold 135,673 shares of company stock valued at $9,188,222. Insiders own 10.49% of the company’s stock.

Institutional Investors Weigh In On Block

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Montag A & Associates Inc. increased its stake in shares of Block by 843.2% during the fourth quarter. Montag A & Associates Inc. now owns 349 shares of the technology company’s stock worth $27,000 after acquiring an additional 312 shares during the period. Riverview Trust Co purchased a new stake in Block during the first quarter worth about $28,000. Tidemark LLC purchased a new stake in Block during the fourth quarter worth about $32,000. YHB Investment Advisors Inc. purchased a new stake in Block during the first quarter worth about $33,000. Finally, Vima LLC purchased a new stake in Block during the fourth quarter worth about $34,000. 70.44% of the stock is owned by hedge funds and other institutional investors.

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.