Piper Sandler Downgrades Block, Predicts Significant Price Increase

Fintel reports that on May 2, 2025, Piper Sandler downgraded their outlook for Block (BIT:1SQ) from Overweight to Neutral.

Analyst Price Forecast Indicates Potential for Gains

As of April 24, 2025, the average one-year price target for Block is €76.13 per share. Projections range from a low of €45.41 to a high of €113.47. This average price target signifies a potential increase of 47.19% from the latest closing price of €51.72 per share.

Company Financials and Fund Sentiment

The projected annual revenue for Block is €28.601 billion, reflecting a year-on-year growth rate of 19.49%. Moreover, the anticipated non-GAAP EPS stands at 3.20.

Institutional Investment Trends

Currently, there are 1,813 funds or institutions reporting positions in Block. This marks an increase of 126 owners or 7.47% in the last quarter. The average portfolio weight of all funds dedicated to 1SQ is 0.34%, which is a 105.69% rise. Over the past three months, total shares owned by institutions rose by 4.72% to 458.268 million shares.

Key Institutional Holders

Vanguard Total Stock Market Index Fund Investor Shares (VTSMX) holds 17.548 million shares, representing 3.14% ownership, although this reflects a decrease of 0.51% from their previous holding of 17.637 million shares. Meanwhile, the fund increased its allocation in 1SQ by 24.14% over the last quarter.

JPMorgan Chase currently holds 17.237 million shares, accounting for 3.08% ownership, an increase from their earlier 15.888 million shares, marking a 7.82% rise. Their allocation in 1SQ has grown by 34.59% since last quarter.

Vanguard Mid-Cap Index Fund Investor Shares (VIMSX) possesses 12.028 million shares or 2.15% ownership, up from 11.757 million shares—a 2.25% increase. The fund raised its portfolio allocation in 1SQ by 28.54% over the last quarter.

Baillie Gifford holds 11.168 million shares, reflecting 2.00% ownership, which is an increase from 10.233 million shares—a rise of 8.37%. The allocation for 1SQ expanded by 41.87% in the last quarter.

Sands Capital Management possesses 10.340 million shares, representing 1.85% ownership. However, this is a decrease from the previous 11.228 million shares, marking an 8.59% decline. The firm still increased its portfolio allocation in 1SQ by 13.67% during the last quarter.

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.