Wells Fargo Lowers Rating on Block (BIT:1SQ)

Published On: May 3, 2025 7:16 am

Wells Fargo Adjusts Block’s Outlook Amid Positive Price Predictions

Fintel reports that on May 2, 2025, Wells Fargo downgraded their outlook for Block (BIT:1SQ) from Overweight to Equal-Weight.

Analyst Price Forecast Indicates Significant Upside

As of April 24, 2025, the average one-year price target for Block stands at €76.13 per share. The forecasts range from a low of €45.41 to a high of €113.47. This average price target indicates a potential increase of 47.19% from its latest reported closing price of €51.72 per share.

Projected Revenue Growth

The projected annual revenue for Block is €28,601 million, reflecting a solid increase of 19.49%. The company is also expected to achieve an annual non-GAAP EPS of 3.20.

Institutional Fund Sentiment

Currently, 1,813 funds or institutions are reporting positions in Block, marking an increase of 126 owners (7.47%) in the last quarter. The average portfolio weight of all funds dedicated to 1SQ is 0.34%, which shows an increase of 105.69%. Total shares owned by institutions have grown by 4.72% over the last three months, totaling 458,268,000 shares.

Shareholder Activity Insights

IT:1SQ / Block, Inc. Shares Held by Institutions

Vanguard Total Stock Market Index Fund Investor Shares (VTSMX) holds 17,548,000 shares, representing 3.14% ownership of the company. In its prior filing, the firm reported owning 17,637,000 shares, indicating a decrease of 0.51%. The firm has increased its allocation in 1SQ by 24.14% over the last quarter.

JPMorgan Chase holds 17,237,000 shares, accounting for 3.08% ownership. Previous filings indicated ownership of 15,888,000 shares, an increase of 7.82%. The firm has also boosted its portfolio allocation in 1SQ by 34.59% in the last quarter.

Vanguard Mid-Cap Index Fund Investor Shares (VIMSX) holds 12,028,000 shares, representing 2.15% ownership. Its prior filing showed ownership of 11,757,000 shares, which indicates an increase of 2.25%. The firm increased its 1SQ allocation by 28.54% over the last quarter.

Baillie Gifford owns 11,168,000 shares, representing 2.00% ownership. In its prior filing, the firm reported ownership of 10,233,000 shares, marking an increase of 8.37%. Their portfolio allocation in 1SQ has risen by 41.87% over the last quarter.

Sands Capital Management holds 10,340,000 shares, amounting to 1.85% ownership. Previously, the firm held 11,228,000 shares, indicating a decrease of 8.59%. Yet, it has increased its 1SQ allocation by 13.67% over the last quarter.

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