Block placed on ‘negative catalyst watch’ at Citi

Citi placed Block (SQ) on a “negative 30-day catalyst watch” while keeping a Buy rating on the shares with a $90 price target Block may preview elements of its fiscal 2025 outlook when reporting Q3, potentially indicating increased merchant and user acquisition spending now that the company is ahead-of-schedule on its “Rule-of-40” goals, the analyst tells investors in a research cenote. The firm believes there’s potential this action could put fiscal 2025 consensus expectations at risk.