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

Shares of Squarespace, Inc. (NYSE:SQSP) have received an average rating of “Moderate Buy” from the fifteen analysts that are presently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $38.54.

Several brokerages have weighed in on SQSP. 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. Barclays increased their target price on Squarespace from $34.00 to $37.00 and gave the stock an “equal weight” rating in a report on Thursday, February 29th. Robert W. Baird upgraded shares of Squarespace from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $30.00 to $39.00 in a research note on Monday, March 4th. JMP Securities lifted their price target on shares of Squarespace from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, March 18th. Finally, B. Riley raised their target price on shares of Squarespace from $41.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, February 29th.

Squarespace Stock Down 0.7 %

Shares of SQSP stock opened at $34.49 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 price is $34.10 and its two-hundred day moving average price is $31.48. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of -689.80, a price-to-earnings-growth ratio of 3.44 and a beta of 0.51.

Squarespace (NYSE:SQSP) last released its quarterly 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 business had revenue of $270.72 million during the quarter, compared to analysts’ expectations of $263.41 million. During the same period in the previous year, the company posted ($0.07) EPS. The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. On average, equities analysts forecast that Squarespace will post 0.5 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Squarespace

A number of institutional investors have recently bought and sold shares of the business. Quarry LP acquired a new stake in Squarespace during the 2nd quarter worth approximately $25,000. Sunbelt Securities Inc. bought a new stake in Squarespace in the 1st quarter valued at $26,000. Neo Ivy Capital Management acquired a new position in Squarespace in the 2nd quarter worth $31,000. Comerica Bank bought a new position in Squarespace during the 3rd quarter worth about $31,000. Finally, Captrust Financial Advisors raised its stake in shares of Squarespace by 2,128.1% in the 1st quarter. Captrust Financial Advisors now owns 1,270 shares of the company’s stock valued at $33,000 after purchasing an additional 1,213 shares during the period. Institutional investors and hedge funds own 92.30% of the company’s stock.

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.