Jack Dorsey-led Block (SQ) is changing its ticker symbol to “XYZ” to give a more holistic business appeal. Block has a dual-listed structure, with its shares trading under the ticker “SQ” on the New York Stock Exchange (NYSE) and under the symbol “SQ2” on the Australian Securities Exchange (ASX). Both the tickers on NYSE and ASX will change and start trading under the symbol “XYZ” on January 21 and 22, respectively.
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The rebranding efforts aim to bring Block’s diverse financial business under one roof. Block is a fintech company offering financial services under the brands Cash App, Square, Afterpay, and TIDAL. Along with the ticker symbol change, Block also announced the date for releasing its fourth quarter Fiscal 2024 results, to be reported on February 20, after the market closes. Interestingly, in 2021, Dorsey changed the company’s name from “Square” to “Block” to align with his interest in blockchain technology and make it more inclusive of the various businesses.
Analysts’ Expectations from Block in 2025
Recently, analysts from two leading research firms reviewed their ratings and outlook on Block stock for 2025. Let’s take a quick look at their views:
- KBW analyst Sanjay Sakhrani lowered the price target on SQ stock to $100 from $105, implying 15.3% upside potential from current levels. The five-star analyst has a Hold rating on Block as part of his overall outlook for the fintech group. Sakhrani believes that the companies’ December quarter results and outlook for 2025 will be in focus and influence the stock’s movement. Even though macroeconomic headwinds such as currency and fuel prices persist, the analyst is optimistic about consumer spending trends, which have shown improvement since Q3 FY24.
- Raymond James analyst John Davis upgraded SQ stock to Buy from Hold and assigned a $115 price target, implying 32.6% upside. Davis is particularly encouraged by Block’s Seller GPV (gross payment volume) growth, which is expected to boost in 2025. He forecasts Seller GPV to return to double-digit figures this year, driven by easing comps, continued sales momentum, international expansion, and innovation in product offerings. Moreover, Davis believes that SQ stock is currently undervalued as compared to its peers and has scope for a recovery over time.
Are Block Shares a Good Buy?
Wall Street remains highly bullish about Block stock’s trajectory. On TipRanks, SQ stock has a Strong Buy consensus rating based on 23 Buys, four Holds, and one Sell rating. The average Block price target of $101.15 implies 16.6% upside potential from current levels. In the past year, Block shares have gained 27.8%.
