Stock market news: Block, Inc. (NYSE:SQ) experienced a gap down in its share price before trading on Wednesday, opening at $67.91 after closing at $73.00. The stock last traded at $67.19 with a significant trading volume of 3,148,885 shares.
Several Wall Street analysts have weighed in on Block’s performance recently. Wolfe Research raised their price target on Block from $95.00 to $100.00, giving the company an ‘outperform’ rating. Susquehanna reaffirmed a ‘positive’ rating with a $100.00 target price. Citigroup also increased their target from $76.00 to $86.00, rating the stock as a ‘buy.’ Truist Financial raised their target from $90.00 to $100.00, also giving a ‘buy’ rating. MarketBeat reports that analysts have an average rating of ‘Moderate Buy’ for Block with an average price target of $85.67.
Despite analyst optimism, Block’s stock experienced an 8.5% decline. The company holds a debt-to-equity ratio of 0.22, a current ratio and quick ratio of 1.90 each. With a market capitalization of $41.15 billion, Block has a high P/E ratio of 443.00, a PEG ratio of 2.08, and a beta of 2.55. The stock’s 50-day and 200-day moving averages stand at $77.73 and $67.82, respectively.
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