Squarespace (SQSP) Set to Announce Quarterly Earnings on Tuesday

Squarespace (NYSE:SQSP) will be posting its quarterly earnings results before the market opens on Tuesday, May 7th. Analysts expect Squarespace to post earnings of ($0.09) per share for the quarter. Squarespace has set its FY 2024 guidance at EPS and its Q1 2024 guidance at EPS.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Squarespace (NYSE:SQSP) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.12). The firm had revenue of $270.72 million for the quarter, compared to analyst estimates of $263.41 million. During the same quarter in the prior year, the company earned ($0.07) EPS. The business’s quarterly revenue was up 18.3% on a year-over-year basis. On average, analysts expect Squarespace to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Squarespace Trading Up 2.6 %

Shares of SQSP stock opened at $35.24 on Friday. Squarespace has a 12-month low of $25.59 and a 12-month high of $37.89. The business’s fifty day simple moving average is $34.75 and its 200-day simple moving average is $31.88. The company has a market cap of $4.81 billion, a PE ratio of -704.80, a PEG ratio of 3.39 and a beta of 0.52.

Insider Buying and Selling at Squarespace

In related news, CEO Anthony Casalena sold 26,800 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $31.90, for a total value of $854,920.00. Following the transaction, the chief executive officer now directly owns 3,495,096 shares in the company, valued at $111,493,562.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Squarespace news, CFO Nathan Gooden sold 5,129 shares of the company’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 transaction, the chief financial officer now directly owns 66,503 shares in the company, valued at $2,118,120.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Anthony Casalena sold 26,800 shares of Squarespace stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $31.90, for a total value of $854,920.00. Following the completion of the sale, the chief executive officer now directly owns 3,495,096 shares of the company’s stock, valued at $111,493,562.40. The disclosure for this sale can be found here. Insiders sold a total of 342,106 shares of company stock worth $11,865,704 in the last three months. 47.14% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in 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 report on Thursday, February 29th. Raymond James assumed coverage on shares of Squarespace in a research report on Wednesday, March 27th. They set an “outperform” rating and a $40.00 price target on the stock. Barclays upped their target price on Squarespace from $34.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 29th. B. Riley raised their price target on shares of Squarespace from $41.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Finally, Piper Sandler reiterated an “overweight” rating and set a $40.00 price objective on shares of Squarespace in a research note on Thursday, February 29th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.54.

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.