New Buy Rating for Block (SQ), the Technology Giant

In a report released today, Jeff Cantwell from Wells Fargo maintained a Buy rating on Block (SQResearch Report), with a price target of $99.00. The company’s shares closed yesterday at $67.82.

Cantwell covers the Services sector, focusing on stocks such as Paypal Holdings, Paymentus Holdings, and Global Payments. According to TipRanks, Cantwell has an average return of 10.1% and a 60.22% success rate on recommended stocks.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Block with a $113.41 average price target.

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Based on Block’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $4.4 billion and a GAAP net loss of $208.01 million. In comparison, last year the company earned a revenue of $4.68 billion and had a net profit of $204.02 million

Based on the recent corporate insider activity of 292 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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