UBS Group Boosts Squarespace (NYSE:SQSP) Price Target to $46.50

Squarespace (NYSE:SQSP) had its target price boosted by UBS Group from $44.00 to $46.50 in a research report released on Tuesday, Benzinga reports. UBS Group currently has a neutral rating on the stock.

SQSP has been the subject of a number of other reports. Robert W. Baird reissued a neutral rating and set a $44.00 target price (down from $45.00) on shares of Squarespace in a research note on Monday, May 13th. Raymond James reaffirmed a market perform rating on shares of Squarespace in a research note on Monday, May 13th. B. Riley downgraded Squarespace from a buy rating to a neutral rating and set a $43.00 price objective for the company. in a research note on Tuesday, June 11th. Barclays raised their price objective on Squarespace from $40.00 to $44.00 and gave the company an equal weight rating in a research note on Tuesday, May 14th. Finally, Piper Sandler downgraded Squarespace from a strong-buy rating to a hold rating in a research note on Monday, May 13th. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $43.14.

Squarespace Stock Down 0.1 %

Shares of NYSE:SQSP opened at $46.26 on Tuesday. Squarespace has a fifty-two week low of $26.70 and a fifty-two week high of $46.37. The firm’s 50-day simple moving average is $44.61 and its 200-day simple moving average is $40.73. The company has a market cap of $6.41 billion, a price-to-earnings ratio of -925.20, a PEG ratio of 8.28 and a beta of 0.62.

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

Insiders Place Their Bets

In other Squarespace news, CEO Anthony Casalena sold 38,466 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $45.26, for a total transaction of $1,740,971.16. Following the completion of the transaction, the chief executive officer now owns 1,527,820 shares of the company’s stock, valued at $69,149,133.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Paul Gubbay sold 2,500 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $44.12, for a total transaction of $110,300.00. Following the sale, the insider now owns 37,486 shares in the company, valued at $1,653,882.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anthony Casalena sold 38,466 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $45.26, for a total value of $1,740,971.16. Following the sale, the chief executive officer now owns 1,527,820 shares in the company, valued at approximately $69,149,133.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 232,019 shares of company stock valued at $10,227,282. Corporate insiders own 44.96% of the company’s stock.

Institutional Investors Weigh In On Squarespace

Hedge funds have recently made changes to their positions in the business. Brooklyn FI LLC acquired a new position in Squarespace in the first quarter valued at $679,000. Russell Investments Group Ltd. boosted its holdings in Squarespace by 5.0% in the first quarter. Russell Investments Group Ltd. now owns 253,812 shares of the company’s stock valued at $9,263,000 after acquiring an additional 12,180 shares during the last quarter. UBS Group AG boosted its holdings in Squarespace by 137.9% in the fourth quarter. UBS Group AG now owns 271,617 shares of the company’s stock valued at $8,966,000 after acquiring an additional 157,462 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Squarespace by 5.6% in the first quarter. Vanguard Group Inc. now owns 6,699,064 shares of the company’s stock valued at $244,114,000 after acquiring an additional 354,057 shares during the last quarter. Finally, Hawk Ridge Capital Management LP acquired a new position in Squarespace in the fourth quarter valued at $9,648,000. Institutional investors and hedge funds 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.