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

In a report released on January 11, Daniel Perlin from RBC Capital maintained a Buy rating on Block (SQResearch Report), with a price target of $93.00. The company’s shares closed yesterday at $71.80.

According to TipRanks, Perlin is a 5-star analyst with an average return of 7.6% and a 51.81% success rate. Perlin covers the Technology sector, focusing on stocks such as Block, TELUS International (CDA), and Flywire.

In addition to RBC Capital, Block also received a Buy from Wells Fargo’s Jeff Cantwell in a report issued on January 9. However, on the same day, Mizuho Securities maintained a Hold rating on Block (NYSE: SQ).

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Based on Block’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $4.52 billion and a GAAP net loss of $14.71 million. In comparison, last year the company earned a revenue of $3.84 billion and had a net profit of $84 thousand

Based on the recent corporate insider activity of 270 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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