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Mizuho Securities downgrades Block (SQ) to a Hold

In a report released today, Dan Dolev from Mizuho Securities downgraded Block (SQResearch Report) to a Hold, with a price target of $57.00. The company’s shares closed yesterday at $59.45.

Dolev covers the Technology sector, focusing on stocks such as Affirm Holdings, WEX, and Coinbase Global. According to TipRanks, Dolev has an average return of -2.4% and a 45.43% success rate on recommended stocks.

In addition to Mizuho Securities, Block also received a Hold from SMBC Nikko’s Andrew Bauch in a report issued yesterday. However, on September 14, Goldman Sachs reiterated a Buy rating on Block (NYSE: SQ).

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SQ market cap is currently $35.09B and has a P/E ratio of -65.99.

Based on the recent corporate insider activity of 291 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.

Read More on SQ:

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