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.
