Squarespace (NYSE:SQSP) Given “Market Outperform” Rating at JMP Securities

JMP Securities restated their market outperform rating on shares of Squarespace (NYSE:SQSP) in a research note published on Tuesday morning, Benzinga reports. They currently have a $45.00 price objective on the stock.

Several other research firms have also weighed in on SQSP. B. Riley increased their price target on Squarespace from $41.00 to $43.00 and gave the company a buy rating in a report on Thursday, February 29th. Barclays upped their target price on Squarespace from $34.00 to $37.00 and gave the company an equal weight rating in a research note on Thursday, February 29th. Robert W. Baird raised Squarespace from a neutral rating to an outperform rating and raised their price target for the stock from $30.00 to $39.00 in a research note on Monday, March 4th. Piper Sandler restated an overweight rating and set a $40.00 price objective on shares of Squarespace in a report on Thursday, February 29th. Finally, Mizuho increased their target price on Squarespace from $32.00 to $34.00 and gave the stock a neutral rating 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 stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $38.54.

Squarespace Stock Down 2.0 %

Squarespace stock opened at $34.84 on Tuesday. Squarespace has a 52-week low of $25.59 and a 52-week high of $37.89. The firm’s fifty day moving average is $34.58 and its 200 day moving average is $31.81. The company has a market cap of $4.76 billion, a price-to-earnings ratio of -696.80, a PEG ratio of 3.51 and a beta of 0.51.

Squarespace (NYSE:SQSP) last posted its 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 analysts’ expectations of $263.41 million. The firm’s revenue was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.07) EPS. On average, equities research analysts anticipate that Squarespace will post 0.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Squarespace news, CEO Anthony Casalena sold 67,230 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $31.83, for a total transaction of $2,139,930.90. Following the transaction, the chief executive officer now owns 3,388,279 shares of the company’s stock, valued at approximately $107,848,920.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Squarespace news, CEO Anthony Casalena sold 67,230 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $31.83, for a total transaction of $2,139,930.90. Following the completion of the sale, the chief executive officer now owns 3,388,279 shares in the company, valued at $107,848,920.57. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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 value of $163,358.65. Following the completion of the transaction, the chief financial officer now directly owns 66,503 shares of the company’s stock, valued at $2,118,120.55. The disclosure for this sale can be found here. Insiders have sold a total of 342,106 shares of company stock worth $11,865,704 in the last three months. Corporate insiders own 47.14% of the company’s stock.

Institutional Trading of Squarespace

A number of institutional investors have recently modified their holdings of SQSP. Sunbelt Securities Inc. lifted its position in Squarespace by 195.2% during the third quarter. Sunbelt Securities Inc. now owns 2,477 shares of the company’s stock valued at $72,000 after acquiring an additional 1,638 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Squarespace by 3,201.0% in the 4th quarter. International Assets Investment Management LLC now owns 3,301 shares of the company’s stock worth $100,000 after purchasing an additional 3,201 shares in the last quarter. Amalgamated Bank grew its stake in Squarespace by 12.4% during the 3rd quarter. Amalgamated Bank now owns 5,106 shares of the company’s stock worth $148,000 after buying an additional 565 shares during the last quarter. Handelsbanken Fonder AB acquired a new position in Squarespace during the 4th quarter valued at about $244,000. Finally, Landscape Capital Management L.L.C. purchased a new stake in Squarespace in the third quarter valued at about $250,000. 92.30% of the stock is currently owned by 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.