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KeyBanc Thinks Block’s Stock is Going to Recover

KeyBanc analyst Josh Beck maintained a Buy rating on Block (SQResearch Report) today and set a price target of $80.00. The company’s shares closed last Wednesday at $64.97, close to its 52-week low of $56.01.

According to TipRanks.com, Beck is a 5-star analyst with an average return of 16.6% and a 57.1% success rate. Beck covers the Technology sector, focusing on stocks such as BigCommerce Holdings, AvidXchange Holdings, and Robinhood Markets.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Block with a $139.79 average price target, implying a 109.9% upside from current levels. In a report issued on June 22, Credit Suisse also maintained a Buy rating on the stock with a $170.00 price target.

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Based on Block’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.96 billion and GAAP net loss of $204 million. In comparison, last year the company earned revenue of $5.06 billion and had a net profit of $39.01 million.

Based on the recent corporate insider activity of 288 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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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