Squarespace (SQSP) Scheduled to Post Earnings on Tuesday

Squarespace (NYSE:SQSP) will be releasing its earnings data 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.Investors that wish to listen to the company’s conference call can do so using this link.

Squarespace (NYSE:SQSP) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 EPS 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 the consensus estimate of $263.41 million. Squarespace’s revenue was up 18.3% on a year-over-year basis. During the same period last year, the company posted ($0.07) EPS. On average, analysts expect Squarespace to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Squarespace Stock Performance

NYSE:SQSP opened at $35.24 on Friday. Squarespace has a 52-week low of $25.59 and a 52-week high of $37.89. The company has a market cap of $4.81 billion, a P/E ratio of -704.80, a P/E/G ratio of 3.39 and a beta of 0.52. The stock’s 50-day simple moving average is $34.75 and its 200 day simple moving average is $31.88.

Insider Activity at Squarespace

In related news, CEO Anthony Casalena sold 67,230 shares of Squarespace stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 3,388,279 shares of the company’s stock, valued at approximately $107,848,920.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Nathan Gooden sold 5,129 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 66,503 shares of the company’s stock, valued at $2,118,120.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anthony Casalena sold 67,230 shares of Squarespace stock in a transaction on 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 completion of the sale, the chief executive officer now owns 3,388,279 shares of the company’s stock, valued at approximately $107,848,920.57. The disclosure for this sale can be found here. Insiders have sold 342,106 shares of company stock valued at $11,865,704 over the last ninety days. 47.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Robert W. Baird raised shares of 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 note on Monday, March 4th. Raymond James initiated coverage on shares of Squarespace in a research note on Wednesday, March 27th. They set an “outperform” rating and a $40.00 price objective on the stock. JMP Securities reiterated a “market outperform” rating and issued a $45.00 target price on shares of Squarespace in a research note on Tuesday, April 30th. Citigroup boosted their price target on Squarespace from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Finally, Mizuho upped their price objective on Squarespace from $32.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.54.

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.