Fintel reports that on September 6, 2023, UBS downgraded their outlook for Block Inc – (NYSE:SQ) from Buy to Neutral.

Analyst Price Forecast Suggests 47.44% Upside

As of August 31, 2023, the average one-year price target for Block Inc – is 86.61. The forecasts range from a low of 35.33 to a high of $115.50. The average price target represents an increase of 47.44% from its latest reported closing price of 58.74.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Block Inc – is 20,826MM, an increase of 5.76%. The projected annual non-GAAP EPS is 1.72.

What is the Fund Sentiment?

There are 1526 funds or institutions reporting positions in Block Inc -. This is a decrease of 89 owner(s) or 5.51% in the last quarter. Average portfolio weight of all funds dedicated to SQ is 0.42%, a decrease of 15.32%. Total shares owned by institutions decreased in the last three months by 4.65% to 423,539K shares. The put/call ratio of SQ is 0.65, indicating a bullish outlook.

What are Other Shareholders Doing?

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 16,982K shares representing 2.77% ownership of the company. In it’s prior filing, the firm reported owning 16,755K shares, representing an increase of 1.34%. The firm decreased its portfolio allocation in SQ by 9.32% over the last quarter.

Wellington Management Group Llp holds 16,593K shares representing 2.71% ownership of the company. In it’s prior filing, the firm reported owning 14,031K shares, representing an increase of 15.44%. The firm increased its portfolio allocation in SQ by 9.43% over the last quarter.

Sands Capital Management holds 14,474K shares representing 2.36% ownership of the company. In it’s prior filing, the firm reported owning 14,949K shares, representing a decrease of 3.29%. The firm decreased its portfolio allocation in SQ by 11.51% over the last quarter.

Capital World Investors holds 11,369K shares representing 1.86% ownership of the company. In it’s prior filing, the firm reported owning 11,313K shares, representing an increase of 0.49%. The firm decreased its portfolio allocation in SQ by 9.33% over the last quarter.

ARK Investment Management holds 10,727K shares representing 1.75% ownership of the company. In it’s prior filing, the firm reported owning 10,471K shares, representing an increase of 2.39%. The firm decreased its portfolio allocation in SQ by 4.30% over the last quarter.

Block Background Information
(This description is provided by the company.)

Square, Inc. builds tools to empower businesses and individuals to participate in the economy. Sellers use Square to reach buyers online and in person, and to manage their business. Square has offices in the United States, Canada, Japan, Australia, Ireland, Spain and the UK.

This article originally appeared on Fintel

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