Squarespace, Inc. (NYSE:SQSP) Receives $43.14 Consensus Price Target from Analysts

Shares of Squarespace, Inc. (NYSE:SQSP) have earned an average rating of “Hold” from the thirteen brokerages that are covering the stock, MarketBeat Ratings reports. Eleven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $43.14.

A number of equities analysts have commented on the stock. UBS Group boosted their price objective on shares of Squarespace from $44.00 to $46.50 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Barclays increased their price target on Squarespace from $44.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, September 10th. Mizuho downgraded Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 price objective on the stock. in a report on Monday, August 5th. Finally, William Blair reiterated a “market perform” rating on shares of Squarespace in a research note on Monday.

Insiders Place Their Bets

In related news, CEO Anthony Casalena sold 68,659 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $44.18, for a total transaction of $3,033,354.62. Following the completion of the sale, the chief executive officer now owns 1,698,304 shares of the company’s stock, valued at $75,031,070.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Anthony Casalena sold 68,659 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $44.18, for a total value of $3,033,354.62. Following the sale, the chief executive officer now owns 1,698,304 shares of the company’s stock, valued at approximately $75,031,070.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul Gubbay sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $46.29, for a total value of $115,725.00. Following the transaction, the insider now owns 46,269 shares of the company’s stock, valued at $2,141,792.01. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 446,207 shares of company stock valued at $20,489,371. Company insiders own 44.96% of the company’s stock.

Institutional Trading of Squarespace

A number of large investors have recently modified their holdings of the company. Brooklyn FI LLC bought a new position in Squarespace in the 1st quarter worth about $679,000. Russell Investments Group Ltd. grew its holdings in Squarespace by 5.0% in the 1st quarter. Russell Investments Group Ltd. now owns 253,812 shares of the company’s stock worth $9,263,000 after buying an additional 12,180 shares in the last quarter. Vanguard Group Inc. grew its holdings in Squarespace by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 6,699,064 shares of the company’s stock worth $244,114,000 after buying an additional 354,057 shares in the last quarter. Hawk Ridge Capital Management LP acquired a new stake in Squarespace in the 4th quarter valued at approximately $9,648,000. Finally, Acadian Asset Management LLC raised its stake 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 acquiring an additional 317,416 shares in the last quarter. Institutional investors and hedge funds own 92.30% of the company’s stock.

Squarespace Stock Performance

SQSP stock opened at $46.67 on Wednesday. The stock has a 50-day simple moving average of $45.71 and a 200-day simple moving average of $42.81. The firm has a market cap of $6.42 billion, a P/E ratio of -933.40, a price-to-earnings-growth 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 $46.69.

Squarespace (NYSE:SQSP) last issued its quarterly earnings data 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 the consensus estimate of $293.12 million. During the same period last year, the business earned $0.03 earnings per share. The firm’s quarterly revenue was up 19.9% compared to the same quarter last year. On average, equities research analysts predict that Squarespace will post 0.28 EPS for the current year.

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.