Barclays Cuts Squarespace (NYSE:SQSP) Price Target to $24.00

Squarespace (NYSE:SQSPGet Rating) had its price target lowered by analysts at Barclays from $25.00 to $24.00 in a research report issued on Tuesday, The Fly reports. Barclays‘s target price suggests a potential upside of 13.74% from the stock’s current price.

Several other research analysts have also commented on the stock. Citigroup began coverage on shares of Squarespace in a research note on Tuesday, April 19th. They set a “neutral” rating and a $25.00 price objective for the company. Credit Suisse Group assumed coverage on shares of Squarespace in a report on Tuesday, May 31st. They set a “neutral” rating and a $25.00 price objective on the stock. Wedbush upgraded shares of Squarespace from a “neutral” rating to an “outperform” rating in a research report on Friday, May 13th. Raymond James dropped their price target on shares of Squarespace from $55.00 to $30.00 and set an “outperform” rating for the company in a research report on Tuesday, March 8th. Finally, The Goldman Sachs Group initiated coverage on shares of Squarespace in a research report on Monday, May 2nd. They set a “neutral” rating and a $24.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $37.88.

Shares of NYSE SQSP opened at $21.10 on Tuesday. The firm’s fifty day moving average is $20.77 and its two-hundred day moving average is $25.94. Squarespace has a 52-week low of $14.43 and a 52-week high of $64.71.

Squarespace (NYSE:SQSPGet Rating) last posted its earnings results on Thursday, May 12th. The company reported ($0.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.62). The firm had revenue of $207.76 million for the quarter, compared to analysts’ expectations of $204.44 million. On average, equities analysts forecast that Squarespace will post -0.48 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Captrust Financial Advisors boosted its stake in shares of Squarespace by 2,128.1% during the 1st quarter. Captrust Financial Advisors now owns 1,270 shares of the company’s stock valued at $33,000 after buying an additional 1,213 shares during the last quarter. Royal Bank of Canada increased its position in Squarespace by 1,000.0% in the third quarter. Royal Bank of Canada now owns 1,100 shares of the company’s stock worth $43,000 after buying an additional 1,000 shares during the period. Advisors Asset Management Inc. acquired a new stake in Squarespace in the first quarter worth $46,000. Fifth Third Bancorp acquired a new stake in Squarespace in the fourth quarter worth $50,000. Finally, Parkside Financial Bank & Trust acquired a new stake in Squarespace in the first quarter worth $58,000. 37.53% of the stock is owned by hedge funds and other institutional investors.

About Squarespace (Get Rating)

Squarespace, Inc operates platform for businesses and independent creators to build online presence, grow their brands, and manage their businesses across the internet. Its suite of integrated products enables users to manage their projects and businesses through websites, domains, e-commerce, marketing tools, and scheduling, as well as tools for managing a social media presence.

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