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Mizuho gives a Buy recommendation for Block Inc (SQ)

Block Inc’s filing revealed that its Cash App Lead Grassadonia Brian unloaded Company’s shares for reported $7.68 million on May 01 ’24. In the deal valued at $67.56 per share,113,668 shares were sold. As a result of this transaction, Grassadonia Brian now holds 603,861 shares worth roughly $42.99 million.

Then, Grassadonia Brian sold 4,514 shares, generating $353,943 in total proceeds. Upon selling the shares at $78.41, the Cash App Lead now owns 477,290 shares.

Before that, Ahuja Amrita sold 3,791 shares. Block Inc shares valued at $297,252 were divested by the CFO & COO at a price of $78.41 per share. As a result of the transaction, Ahuja Amrita now holds 189,401 shares, worth roughly $13.49 million.

Mizuho reiterated its Block Inc [SQ] rating to a Buy in a research note published on April 10, 2024; the price target was $106. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who decreased its forecast for the stock in early April from “an Equal-weight” to “an Underweight”. Wells Fargo also remained covering SQ and has increased its forecast on February 23, 2024 with a “an Overweight” recommendation from previously “an Equal weight” rating. Seaport Research Partners revised its rating on February 23, 2024. It rated SQ as “a Buy” which previously was an “a Neutral”.

Price Performance Review of SQ

On Tuesday, Block Inc [NYSE:SQ] saw its stock jump 2.09% to $71.20. Over the last five days, the stock has lost -0.56%. Block Inc shares have fallen nearly -7.95% since the year began. Nevertheless, the stocks have risen 28.15% over the past one year. While a 52-week high of $87.52 was reached on 03/13/24, a 52-week low of $38.85 was recorded on 01/25/24. SMA at 50 days reached $76.65, while 200 days put it at $64.23. A total of 5.97 million shares were traded, compared to the trading of 7.26 million shares in the previous session.

Levels Of Support And Resistance For SQ Stock

The 24-hour chart illustrates a support level at 70.27, which if violated will result in even more drops to 69.35. On the upside, there is a resistance level at 72.05. A further resistance level may holdings at 72.91. The Relative Strength Index (RSI) on the 14-day chart is 46.21, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.96, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 49.03%. Stochastics %K at 46.81% indicates the stock is a holding.

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