Reassessing The Changing Outlook For Block Inc (SQ)

Currently, there are 555.31M common shares owned by the public and among those 541.67M shares have been available to trade.

The company’s stock has a 5-day price change of -6.19% and 10.56% over the past three months. SQ shares are trading -4.98% year to date (YTD), with the 12-month market performance up to 13.85% higher. It has a 12-month low price of $38.85 and touched a high of $87.52 over the same period. SQ has an average intraday trading volume of 10.28 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -8.52%, -3.20%, and 14.33% respectively.

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Institutional ownership of Block Inc (NYSE: SQ) shares accounts for 61.96% of the company’s 555.31M shares outstanding.

It has a market capitalization of $45.25B and a beta (3y monthly) value of 2.57. The stock’s trailing 12-month PE ratio is 12672.41, while the earnings-per-share (ttm) stands at $0.01. The company has a PEG of 218.75 and a Quick Ratio of 1.89 with the debt-to-equity ratio at 0.24. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.64% over the week and 3.73% over the month.

Analysts forecast that Block Inc (SQ) will achieve an EPS of $Block, Inc. for the current quarter, $73.50 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $Bristol-Myers Squibb Company while analysts give the company a high EPS estimate of $SentinelOne, Inc.. Comparatively, EPS for the current quarter was $Sea Limited a year ago. Earnings per share for the fiscal year are expected to increase by 79.01%, and 31.20% over the next financial year.

Looking at the support for the SQ, a number of firms have released research notes about the stock. Mizuho stated their Buy rating for the stock in a research note on April 10, 2024, with the firm’s price target at $99-$106. Morgan Stanley coverage for the Block Inc (SQ) stock in a research note released on April 04, 2024 offered a Underweight rating with a price target of $60. Wells Fargo was of a view on February 23, 2024 that the stock is Overweight, while Seaport Research Partners gave the stock Buy rating on February 23, 2024, issuing a price target of $95. CLSA on their part issued Buy rating on February 23, 2024.

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