JMP Securities Sticks to Its Hold Rating for Block (SQ)

In a report released today, David Scharf from JMP Securities maintained a Hold rating on Block (SQResearch Report). The company’s shares closed last Tuesday at $99.44, close to its 52-week low of $82.72.

According to TipRanks.com, Scharf is a 5-star analyst with an average return of 16.8% and a 55.3% success rate. Scharf covers the Financial sector, focusing on stocks such as International Money Express, Synchrony Financial, and Enova International.

Currently, the analyst consensus on Block is a Strong Buy with an average price target of $187.29, which is a 95.7% upside from current levels. In a report issued on March 1, Robert W. Baird also assigned a Hold rating to the stock with a $135.00 price target.

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Based on Block’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $4.08 billion and GAAP net loss of $76.83 million. In comparison, last year the company earned revenue of $3.16 billion and had a net profit of $294 million.

Based on the recent corporate insider activity of 156 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SQ in relation to earlier this year.

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Founded in 2009, California-based Square, Inc. provides credit card payment processing solutions. The company’s commerce ecosystem offers point-of-sale software and hardware that helps sellers with payment and point-of-sale solutions.

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