Squarespace, Inc. (NYSE:SQSP) Receives $38.54 Average Price Target from Analysts

Squarespace, Inc. (NYSE:SQSP) has earned an average recommendation of “Moderate Buy” from the fifteen brokerages that are covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $38.54.

A number of brokerages have recently issued reports on SQSP. Royal Bank of Canada boosted their price objective on shares of Squarespace from $32.00 to $35.00 and gave the company a “sector perform” rating in a research report on Thursday, February 29th. Citigroup boosted their price objective on shares of Squarespace from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Raymond James began coverage on shares of Squarespace in a research report on Wednesday, March 27th. They set an “outperform” rating and a $40.00 price objective for the company. Mizuho boosted their price objective on shares of Squarespace from $32.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Finally, JMP Securities boosted their price objective on shares of Squarespace from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, March 18th.

Squarespace Trading Down 0.7 %

NYSE:SQSP opened at $34.49 on Wednesday. Squarespace has a 12 month low of $25.59 and a 12 month high of $37.89. The company has a market cap of $4.71 billion, a PE ratio of -689.80, a price-to-earnings-growth ratio of 3.40 and a beta of 0.51. The company has a 50 day simple moving average of $34.10 and a two-hundred day simple moving average of $31.53.

Squarespace (NYSE:SQSP) last posted its earnings results on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.12). The business had revenue of $270.72 million for the quarter, compared to analyst estimates of $263.41 million. During the same period in the previous year, the business posted ($0.07) earnings per share. The company’s revenue for the quarter was up 18.3% compared to the same quarter last year. Research analysts forecast that Squarespace will post 0.5 earnings per share for the current year.

Insiders Place Their Bets

In other Squarespace news, CEO Anthony Casalena sold 66,420 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $32.36, for a total value of $2,149,351.20. Following the sale, the chief executive officer now owns 3,521,896 shares in the company, valued at approximately $113,968,554.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Squarespace news, CEO Anthony Casalena sold 66,420 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $32.36, for a total value of $2,149,351.20. Following the sale, the chief executive officer now owns 3,521,896 shares in the company, valued at approximately $113,968,554.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Nathan Gooden sold 5,129 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $31.85, for a total transaction of $163,358.65. Following the completion of the sale, the chief financial officer now owns 66,503 shares in the company, valued at approximately $2,118,120.55. The disclosure for this sale can be found here. Insiders have sold a total of 401,032 shares of company stock worth $13,576,924 in the last 90 days. 47.14% of the stock is currently owned by corporate insiders.

Institutional Trading of Squarespace

Hedge funds have recently made changes to their positions in the business. Quarry LP purchased a new stake in shares of Squarespace during the 2nd quarter valued at about $25,000. Sunbelt Securities Inc. purchased a new stake in shares of Squarespace during the 1st quarter valued at about $26,000. Point72 Middle East FZE purchased a new stake in shares of Squarespace during the 4th quarter valued at about $30,000. Neo Ivy Capital Management purchased a new stake in shares of Squarespace during the 2nd quarter valued at about $31,000. Finally, Comerica Bank purchased a new stake in shares of Squarespace during the 3rd quarter valued at about $31,000. 92.30% of the stock is currently 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.