Piper Sandler Downgrades Block to Neutral Amid Market Fluctuations

Fintel reports that on May 2, 2025, Piper Sandler downgraded their outlook for Block (XTRA:SQ3) from Overweight to Neutral.

Analyst Price Forecast Indicates Significant Upside

As of April 24, 2025, the average one-year price target for Block is 75.73 €/share. The estimates range from a low of 45.17 € to a high of 112.88 €. This average price target signifies a potential increase of 47.16% from its latest reported closing price of 51.46 € / share.

Revenue and Earnings Projections

The projected annual revenue for Block is estimated at 27,352 million €, reflecting a 14.27% increase. Moreover, the projected annual non-GAAP EPS stands at 3.27.

Fund Sentiment Analysis

A total of 1,813 funds or institutions are reporting positions in Block, which marks an increase of 126 owners, or 7.47%, over the last quarter. The average portfolio weight of all funds dedicated to SQ3 is currently 0.34%, an increase of 105.68%. Total shares owned by institutions rose in the past three months by 4.68%, reaching 458,094K shares.

Institutional Shareholder Activities

The Vanguard Total Stock Market Index Fund Investor Shares (VTSMX) holds 17,548K shares, which equates to 3.14% ownership. Previously, the firm reported owning 17,637K shares, indicating a slight decrease of 0.51%. However, it increased its portfolio allocation in SQ3 by 24.14% over the last quarter.

JPMorgan Chase currently holds 17,237K shares, representing 3.08% ownership. This is an increase from the 15,888K shares previously reported, reflecting a 7.82% rise. They also boosted their portfolio allocation in SQ3 by 34.59% in the last quarter.

The Vanguard Mid-Cap Index Fund Investor Shares (VIMSX) possess 12,028K shares, accounting for 2.15% ownership. The previous filing showed 11,757K shares, representing an increase of 2.25%. The firm raised its portfolio allocation in SQ3 by 28.54% during the last quarter.

Baillie Gifford holds 11,168K shares, reflecting a 2.00% ownership stake. This is up from 10,233K shares in prior filings, showcasing an increase of 8.37%. The firm augmented its portfolio allocation in SQ3 by 41.87% over the last quarter.

Sands Capital Management owns 10,340K shares, which constitutes 1.85% ownership. Their previous filing indicated 11,228K shares, which indicates a decrease of 8.59%. Nonetheless, the firm elevated its portfolio allocation in SQ3 by 13.67% during the last quarter.

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