Barclays Increases Squarespace (NYSE:SQSP) Price Target to $47.00

Squarespace (NYSE:SQSP) had its target price lifted by equities researchers at Barclays from $44.00 to $47.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s target price would indicate a potential upside of 1.60% from the stock’s current price.

Other research analysts have also issued reports about the company. Raymond James reaffirmed a “market perform” rating on shares of Squarespace in a research report on Monday, May 13th. Mizuho cut Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 target price on the stock. in a report on Monday, August 5th. UBS Group increased their target price on shares of Squarespace from $44.00 to $46.50 and gave the company a “neutral” rating in a research report on Tuesday. Piper Sandler downgraded shares of Squarespace from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 13th. Finally, B. Riley lowered shares of Squarespace from a “buy” rating to a “neutral” rating and set a $43.00 price objective on the stock. in a research note on Tuesday, June 11th. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $43.14.

Squarespace Trading Up 0.1 %

NYSE:SQSP opened at $46.26 on Tuesday. The stock’s 50-day moving average is $44.51 and its 200-day moving average is $40.60. The stock has a market cap of $6.41 billion, a P/E ratio of -925.20, a price-to-earnings-growth ratio of 8.11 and a beta of 0.62. Squarespace has a 1-year low of $26.70 and a 1-year high of $46.37.

Squarespace (NYSE:SQSP) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.07). The business had revenue of $296.80 million for the quarter, compared to analysts’ expectations of $293.12 million. The business’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.03 EPS. As a group, equities analysts forecast that Squarespace will post 0.28 EPS for the current year.

Insider Activity at Squarespace

In other Squarespace news, CEO Anthony Casalena sold 38,466 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $45.26, for a total value of $1,740,971.16. Following the completion of the sale, the chief executive officer now directly owns 1,527,820 shares in the company, valued at $69,149,133.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Anthony Casalena sold 38,466 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $45.26, for a total transaction of $1,740,971.16. Following the transaction, the chief executive officer now owns 1,527,820 shares of the company’s stock, valued at approximately $69,149,133.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Gubbay sold 2,500 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $44.12, for a total value of $110,300.00. Following the completion of the sale, the insider now owns 37,486 shares of the company’s stock, valued at $1,653,882.32. The disclosure for this sale can be found here. Insiders have sold 232,019 shares of company stock worth $10,227,282 in the last quarter. Company insiders own 44.96% of the company’s stock.

Institutional Investors Weigh In On Squarespace

Several hedge funds and other institutional investors have recently modified their holdings of SQSP. Victory Capital Management Inc. grew its position in Squarespace by 7.5% in the 4th quarter. Victory Capital Management Inc. now owns 43,083 shares of the company’s stock valued at $1,422,000 after purchasing an additional 3,011 shares during the period. Swiss National Bank increased its position in shares of Squarespace by 8.7% during the fourth quarter. Swiss National Bank now owns 104,200 shares of the company’s stock worth $3,440,000 after acquiring an additional 8,300 shares in the last quarter. National Bank of Canada FI increased its position in shares of Squarespace by 33,600.0% during the fourth quarter. National Bank of Canada FI now owns 33,700 shares of the company’s stock worth $1,071,000 after acquiring an additional 33,600 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Squarespace by 23.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 423,018 shares of the company’s stock worth $13,964,000 after acquiring an additional 81,493 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in shares of Squarespace by 5.8% in the 4th quarter. Teacher Retirement System of Texas now owns 24,419 shares of the company’s stock worth $806,000 after acquiring an additional 1,349 shares during the last quarter. Institutional investors own 92.30% of the company’s stock.

About Squarespace

Squarespace, Inc operates platform for businesses and independent creators to build online presence, grow their brands, and manage their businesses across the internet in the United States and internationally. It enables users to manage their projects and businesses through websites, domains, e-commerce, marketing tools, scheduling, and hospitality services, as well as tools for managing a social media presence.