Brokerages Set Squarespace, Inc. (NYSE:SQSP) Target Price at $38.54

Squarespace, Inc. (NYSE:SQSP) has been assigned a consensus rating of “Moderate Buy” from the fifteen brokerages that are covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $38.54.

SQSP has been the subject of several analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $40.00 price objective on shares of Squarespace in a research note on Thursday, February 29th. Robert W. Baird raised Squarespace from a “neutral” rating to an “outperform” rating and raised their target price for the company from $30.00 to $39.00 in a research report on Monday, March 4th. Barclays boosted their price target on shares of Squarespace from $34.00 to $37.00 and gave the stock an “equal weight” rating in a report on Thursday, February 29th. Citigroup raised their price objective on shares of Squarespace from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Finally, JMP Securities boosted their target price on shares of Squarespace from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, March 18th.

Squarespace Stock Down 0.7 %

NYSE SQSP opened at $34.49 on Wednesday. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of -689.80, a PEG ratio of 3.44 and a beta of 0.51. Squarespace has a twelve month low of $25.59 and a twelve month high of $37.89. The stock has a fifty day simple moving average of $34.10 and a 200 day simple moving average of $31.48.

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

Insider Transactions at Squarespace

In related news, insider Paul Gubbay sold 2,500 shares of Squarespace stock in a transaction on Friday, April 12th. The shares were sold at an average price of $36.81, for a total transaction of $92,025.00. Following the transaction, the insider now owns 43,686 shares in the company, valued at approximately $1,608,081.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Squarespace news, insider Paul Gubbay sold 2,500 shares of the business’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $36.81, for a total value of $92,025.00. Following the sale, the insider now owns 43,686 shares in the company, valued at approximately $1,608,081.66. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Anthony Casalena sold 59,935 shares of the firm’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $32.71, for a total value of $1,960,473.85. Following the transaction, the chief executive officer now owns 3,588,316 shares of the company’s stock, valued at approximately $117,373,816.36. The disclosure for this sale can be found here. Insiders have sold 401,032 shares of company stock valued at $13,576,924 over the last quarter. 47.14% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Squarespace

Several large investors have recently bought and sold shares of SQSP. Advisor Group Holdings Inc. raised its holdings in Squarespace by 93.2% during the 1st quarter. Advisor Group Holdings Inc. now owns 3,336 shares of the company’s stock valued at $85,000 after buying an additional 1,609 shares during the period. JPMorgan Chase & Co. grew its holdings in Squarespace by 317.0% during the 1st quarter. JPMorgan Chase & Co. now owns 56,433 shares of the company’s stock valued at $1,446,000 after purchasing an additional 42,900 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in Squarespace in the 1st quarter worth about $207,000. Bank of New York Mellon Corp lifted its stake in Squarespace by 953.4% in the first quarter. Bank of New York Mellon Corp now owns 441,633 shares of the company’s stock worth $11,314,000 after purchasing an additional 399,710 shares during the last quarter. Finally, US Bancorp DE lifted its stake in Squarespace by 44.8% in the first quarter. US Bancorp DE now owns 12,704 shares of the company’s stock worth $326,000 after purchasing an additional 3,931 shares during the last quarter. Institutional investors own 92.30% of the company’s stock.

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.