Squarespace, Inc. (NYSE:SQSP) Receives $43.14 Consensus PT from Brokerages

Squarespace, Inc. (NYSE:SQSP) has been assigned an average rating of “Hold” from the thirteen analysts that are currently covering the stock, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $43.14.

Several equities research analysts have recently weighed in on the company. UBS Group increased their price objective on Squarespace from $44.00 to $46.50 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Barclays raised their price objective on Squarespace from $44.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 10th. Finally, Mizuho lowered shares of 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.

Squarespace Price Performance

NYSE:SQSP opened at $46.46 on Wednesday. The company’s fifty day moving average price is $45.62 and its 200-day moving average price is $42.58. The firm has a market capitalization of $6.43 billion, a P/E ratio of -1,161.50, a PEG ratio of 8.32 and a beta of 0.62. Squarespace has a 1-year low of $26.70 and a 1-year high of $46.54.

Squarespace (NYSE:SQSP) last announced its quarterly earnings data on Friday, August 2nd. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The company had revenue of $296.80 million for the quarter, compared to analysts’ expectations of $293.12 million. The company’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.03 earnings per share. Equities analysts anticipate that Squarespace will post 0.28 EPS for the current fiscal year.

Insider Transactions at Squarespace

In other news, CEO Anthony Casalena sold 59,882 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $43.78, for a total value of $2,621,633.96. Following the transaction, the chief executive officer now owns 1,975,618 shares of the company’s stock, valued at approximately $86,492,556.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Paul Gubbay sold 2,500 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $44.12, for a total transaction of $110,300.00. Following the completion of the transaction, the insider now directly owns 37,486 shares in the company, valued at $1,653,882.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Anthony Casalena sold 59,882 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $43.78, for a total value of $2,621,633.96. Following the transaction, the chief executive officer now directly owns 1,975,618 shares in the company, valued at $86,492,556.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 506,089 shares of company stock valued at $23,111,005 in the last three months. 44.96% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Squarespace

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. bought a new position in Squarespace during the second quarter valued at about $71,000. CWM LLC increased its holdings in Squarespace by 185.6% during the 2nd quarter. CWM LLC now owns 2,016 shares of the company’s stock valued at $88,000 after purchasing an additional 1,310 shares during the period. Quest Partners LLC raised its stake in Squarespace by 1,828.9% in the second quarter. Quest Partners LLC now owns 2,739 shares of the company’s stock worth $120,000 after buying an additional 2,597 shares in the last quarter. Sagefield Capital LP purchased a new position in shares of Squarespace during the second quarter valued at approximately $197,000. Finally, Ameritas Investment Partners Inc. raised its holdings in Squarespace by 8.4% in the first quarter. Ameritas Investment Partners Inc. now owns 5,666 shares of the company’s stock worth $206,000 after buying an additional 437 shares during the last quarter. 92.30% of the stock is currently owned by institutional investors and hedge funds.

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.