Block Inc (NYSE:SQ) shares traded -2.58% lower at $71.31 on Wall Street last session.
SQ stock price is now -7.53% away from the 50-day moving average and 10.86% away from the 200-day moving average. The market capitalization of the company currently stands at $44.00B.
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With the price target enhanced from $99 to $106, Mizuho maintained Buy rating for Block Inc (NYSE: SQ). On April 04, 2024, Morgan Stanley Downgraded its previous ‘Equal-Weight’ rating to ‘Underweight’ on the stock reducing its target price from $62 to quote $60, while ‘Wells Fargo’ rates the stock as ‘Overweight’
In other news, Grassadonia Brian, Cash App Lead sold 113,668 shares of the company’s stock on May 01 ’24. The stock was sold for $7,679,144 at an average price of $67.56. Upon completion of the transaction, the Cash App Lead now directly owns 603,861 shares in the company, valued at $43.06 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 03 ’24, Cash App Lead Grassadonia Brian sold 4,514 shares of the business’s stock. A total of $353,943 was realized by selling the stock at an average price of $78.41. This leaves the insider owning 477,290 shares of the company worth $34.04 million. A total of 12.05% of the company’s stock is owned by insiders.
During the past 12 months, Block Inc has had a low of $38.85 and a high of $87.52. As of last week, the company has a debt-to-equity ratio of 0.23, a current ratio of 1.64, and a quick ratio of 1.63.
The net profit margin was 2.18% and return on equity was 2.74% for SQ. The company reported revenue of $5.96 billion for the quarter, compared to $4.99 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 19.38 percent.
Block Inc(SQ) Company Profile
Block, Inc., together with its subsidiaries, builds ecosystems focused on commerce and financial products and services in the United States and internationally. It operates through two segments, Square and Cash App. The Square segment offers commerce products for restaurants, appointments, retail, point of sale, online, online checkout, and invoices, as well as virtual terminals, risk and order managers, and payment and commerce application programming interfaces; managed payment services; software solutions; hardware products, such as registers, terminals, stands, and readers for contactless and chips; banking services consisting of lending, instant transfer, and checking and savings accounts; and full-service setup and support services. This segment also provides loyalty, marketing, team management, and payroll services; and gift cards. The Cash App segment offers financial tools within the mobile Cash App, including peer-to-peer payments, bitcoin, and stock investment brokerage; Cash App Card, a debit card; direct deposit, cash boost, and tax preparation services; and Afterpay, a buy now, pay later platform. This segment also provides Pay in 4, monthly payment solutions, advertising and affiliate, shop directory, and Cash App Pay services; and business accounts, and Afterpay and Afterpay Plus cards. In addition, the company operates TIDAL, a platform for musicians and fans; TBD, an open developer platform focused on making the decentralized financial world accessible; Bitkey, a self-custody bitcoin wallet; and Spiral, which focuses on bitcoin open source work. It serves businesses, sellers, and individuals through e-commerce and retail distribution channels. The company was formerly known as Square, Inc. and changed its name to Block, Inc. in December 2021. Block, Inc. was incorporated in 2009 and is based in Oakland, California.
