Squarespace, Inc. (NYSE:SQSP) Receives Consensus Recommendation of “Moderate Buy” from Analysts

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

A number of equities research analysts recently weighed in on SQSP shares. Mizuho raised their price target on shares of Squarespace from $32.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. Barclays raised their price objective 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. Royal Bank of Canada raised their price objective on shares of Squarespace from $32.00 to $35.00 and gave the stock a “sector perform” rating in a report on Thursday, February 29th. Piper Sandler reissued an “overweight” rating and set a $40.00 price objective on shares of Squarespace in a report on Thursday, February 29th. Finally, JMP Securities raised their price objective on shares of Squarespace from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, March 18th.

Squarespace Stock Up 0.2 %

NYSE:SQSP opened at $35.29 on Wednesday. Squarespace has a fifty-two week low of $25.59 and a fifty-two week high of $37.89. The firm’s 50 day moving average is $33.94 and its two-hundred day moving average is $31.40. The company has a market cap of $4.82 billion, a P/E ratio of -705.70, a P/E/G ratio of 3.61 and a beta of 0.51.

Squarespace (NYSE:SQSP) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) 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. During the same period in the prior year, the firm earned ($0.07) earnings per share. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. Research analysts forecast that Squarespace will post 0.5 earnings per share for the current fiscal year.

Insider Transactions at Squarespace

In other news, CEO Anthony Casalena sold 66,420 shares of Squarespace stock in a transaction that occurred 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 transaction, the chief executive officer now owns 3,521,896 shares of the company’s stock, valued at approximately $113,968,554.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Anthony Casalena sold 66,420 shares of Squarespace stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 3,521,896 shares of the company’s stock, valued at $113,968,554.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Courtenay O’connor sold 20,622 shares of Squarespace stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $32.02, for a total transaction of $660,316.44. Following the completion of the transaction, the general counsel now directly owns 44,189 shares in the company, valued at $1,414,931.78. The disclosure for this sale can be found here. Insiders have sold 353,143 shares of company stock valued at $11,870,412 in the last quarter. Insiders own 47.14% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its position in Squarespace by 124.8% in the third quarter. Wellington Management Group LLP now owns 7,015,353 shares of the company’s stock worth $203,235,000 after acquiring an additional 3,894,084 shares in the last quarter. Vanguard Group Inc. grew its position in Squarespace by 56.3% in the first quarter. Vanguard Group Inc. now owns 3,645,279 shares of the company’s stock worth $93,392,000 after acquiring an additional 1,313,755 shares in the last quarter. First Trust Advisors LP bought a new stake in shares of Squarespace during the 1st quarter worth $27,254,000. BlackRock Inc. boosted its holdings in shares of Squarespace by 38.7% during the 2nd quarter. BlackRock Inc. now owns 3,427,924 shares of the company’s stock worth $108,117,000 after buying an additional 956,920 shares during the period. Finally, Two Sigma Advisers LP boosted its holdings in shares of Squarespace by 1,608.1% during the 1st quarter. Two Sigma Advisers LP now owns 526,100 shares of the company’s stock worth $16,714,000 after buying an additional 495,300 shares during the period. 92.30% of the stock is owned by hedge funds and other institutional investors.

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.