Analysts Set Squarespace, Inc. (NYSE:SQSP) PT at $43.14

Squarespace, Inc. (NYSE:SQSP) has received an average rating of “Hold” from the fourteen analysts that are covering the firm, MarketBeat.com reports. Ten analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $43.14.

A number of equities analysts have issued reports on SQSP shares. Barclays increased their price target on Squarespace from $44.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 10th. B. Riley lowered Squarespace from a “buy” rating to a “neutral” rating and set a $43.00 target price for the company. in a research report on Tuesday, June 11th. Mizuho downgraded Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 price objective for the company. in a report on Monday, August 5th. Finally, UBS Group boosted their price target on shares of Squarespace from $44.00 to $46.50 and gave the company a “neutral” rating in a research note on Tuesday, September 10th.

Squarespace Stock Performance

SQSP stock opened at $46.30 on Friday. The company has a market capitalization of $6.41 billion, a P/E ratio of -926.00, a PEG ratio of 8.29 and a beta of 0.62. Squarespace has a 52-week low of $26.70 and a 52-week high of $46.37. The company has a fifty day moving average price of $44.66 and a 200-day moving average price of $40.92.

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. During the same quarter in the prior year, the company posted $0.03 earnings per share. Squarespace’s revenue for the quarter was up 19.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Squarespace will post 0.28 earnings per share for the current fiscal year.

Insider Transactions at Squarespace

In related news, insider Paul Gubbay sold 2,500 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $46.29, for a total transaction of $115,725.00. Following the completion of the sale, the insider now owns 46,269 shares in the company, valued at $2,141,792.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Paul Gubbay sold 2,500 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $46.29, for a total transaction of $115,725.00. Following the transaction, the insider now owns 46,269 shares of the company’s stock, valued at approximately $2,141,792.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Anthony Casalena sold 38,466 shares of the business’s stock in a transaction dated 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 owns 1,527,820 shares in the company, valued at $69,149,133.20. The disclosure for this sale can be found here. Insiders have sold 234,519 shares of company stock worth $10,343,007 in the last ninety days. Company insiders own 44.96% of the company’s stock.

Institutional Investors Weigh In On Squarespace

Institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its position in shares of Squarespace by 18.1% in the fourth quarter. Wellington Management Group LLP now owns 8,284,051 shares of the company’s stock worth $273,457,000 after buying an additional 1,268,698 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Squarespace by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 6,699,064 shares of the company’s stock valued at $244,114,000 after purchasing an additional 354,057 shares during the last quarter. Glazer Capital LLC bought a new stake in shares of Squarespace in the 2nd quarter valued at about $96,206,000. Renaissance Technologies LLC lifted its position in Squarespace by 19.8% in the second quarter. Renaissance Technologies LLC now owns 1,769,994 shares of the company’s stock valued at $77,225,000 after purchasing an additional 292,600 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in Squarespace by 24.0% during the 1st quarter. Acadian Asset Management LLC now owns 1,637,361 shares of the company’s stock valued at $59,643,000 after buying an additional 317,416 shares during the last quarter. Hedge funds and other institutional investors own 92.30% of the company’s stock.

Squarespace Company Profile

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.