Squarespace (NYSE:SQSP) Given New $46.50 Price Target at UBS Group

Squarespace (NYSE:SQSP) had its price objective raised by equities research analysts at UBS Group from $44.00 to $46.50 in a report issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price target suggests a potential upside of 0.52% from the stock’s current price.

A number of other analysts have also recently commented on SQSP. Raymond James reiterated a “market perform” rating on shares of Squarespace in a research report on Monday, May 13th. Piper Sandler cut Squarespace from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 13th. Barclays upped their price objective on Squarespace from $40.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 14th. Mizuho lowered Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 price target for the company. in a report on Monday, August 5th. Finally, Baird R W lowered Squarespace from a “strong-buy” rating to a “hold” rating in a report on Monday, May 13th. Ten equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $43.14.

Squarespace Trading Up 0.1 %

Shares of SQSP opened at $46.26 on Tuesday. The firm has a fifty day simple moving average of $44.51 and a two-hundred day simple moving average of $40.60. The firm has a market cap of $6.41 billion, a PE ratio of -925.20, a P/E/G 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 posted its quarterly earnings data on Friday, August 2nd. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The company had revenue of $296.80 million during the quarter, compared to the consensus estimate of $293.12 million. The business’s revenue was up 19.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.03 EPS. As a group, research analysts forecast that Squarespace will post 0.28 EPS for the current fiscal year.

Insider Transactions at Squarespace

In other news, insider Paul Gubbay sold 2,500 shares of the company’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $43.72, for a total value of $109,300.00. Following the completion of the transaction, the insider now owns 39,986 shares of the company’s stock, valued at $1,748,187.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Paul Gubbay sold 2,500 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $43.72, for a total transaction of $109,300.00. Following the completion of the transaction, the insider now directly owns 39,986 shares of the company’s stock, valued at $1,748,187.92. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Anthony Casalena sold 68,659 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $44.18, for a total value of $3,033,354.62. Following the transaction, the chief executive officer now directly owns 1,698,304 shares of the company’s stock, valued at $75,031,070.72. The disclosure for this sale can be found here. Insiders sold a total of 232,019 shares of company stock valued at $10,227,282 over the last 90 days. Company insiders own 44.96% of the company’s stock.

Hedge Funds Weigh In On Squarespace

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Squarespace during the 2nd quarter valued at about $71,000. CWM LLC increased its stake in Squarespace by 185.6% during the second quarter. CWM LLC now owns 2,016 shares of the company’s stock worth $88,000 after acquiring an additional 1,310 shares during the last quarter. Quest Partners LLC raised its position in Squarespace by 1,828.9% during the second quarter. Quest Partners LLC now owns 2,739 shares of the company’s stock valued at $120,000 after purchasing an additional 2,597 shares during the period. Sagefield Capital LP purchased a new stake in Squarespace during the second quarter valued at approximately $197,000. Finally, Squarepoint Ops LLC purchased a new stake in Squarespace during the second quarter valued at approximately $245,000. 92.30% of the stock is owned by hedge funds and other institutional investors.

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.