Block's Share Up After Citi Analysts Gives Positive Outlook

Block rose 1.1% during the morning session to $62.09 per share. As reported by Barrons: "Block shares have slumped this year as investors have largely turned away from growth names amid the threat of a global recession. One analyst thinks now is the time to jump in. Citi analyst Peter Christiansen reiterated his Buy rating on Block 's stock ( ticker: SQ ) Wednesday." You can read more about it here. For those of you thinking about investing in the stock, here is a brief look at the company's fundamentals.

Block, Inc., together with its subsidiaries, creates tools that enables sellers to accept card payments and provides reporting and analytics, and next-day settlement. The company belongs to the Technology sector, which has an average price to earnings (P/E) ratio of 26.5 and an average price to book (P/B) ratio of 5.57. In contrast, Block has a trailing 12 month P/E ratio of -371.8 and a P/B ratio of 2.2. Surely Mr. Christiansen's positive outlook assumes a vast improvement of the earnings picture for the stock.

Block has moved -63.3% over the last year compared to -18.6% for the S&P 500 -- a difference of -44.7%. Block has a 52 week high of $171.84 and a 52 week low of $51.34. At today's price of $62.09 per share, Block is -31.08% away from its target price of $90.1, and on average, analysts give the stock a rating of buy. 4.8% of the company's shares are linked to short positions, and 67.6% of the shares are owned by institutional investors.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.