Squarespace (NYSE:SQSP) Rating Reiterated by JMP Securities

Squarespace (NYSE:SQSP)‘s stock had its “market outperform” rating reiterated by investment analysts at JMP Securities in a report issued on Tuesday, Benzinga reports. They currently have a $45.00 price target on the stock. JMP Securities’ target price points to a potential upside of 31.58% from the stock’s current price.

SQSP has been the topic of a number of other research reports. Piper Sandler restated an “overweight” rating and issued a $40.00 target price on shares of Squarespace in a research note on Thursday, February 29th. Royal Bank of Canada lifted their price target 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 lifted their price target 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. Mizuho lifted their price target on shares of Squarespace from $32.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Finally, Citigroup lifted their price target on shares of Squarespace from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $38.54.

Squarespace Stock Down 1.9 %

Shares of NYSE SQSP opened at $34.20 on Tuesday. Squarespace has a twelve month low of $25.59 and a twelve month high of $37.89. The stock’s 50 day moving average price is $34.58 and its 200-day moving average price is $31.81. The company has a market capitalization of $4.67 billion, a PE ratio of -684.00, a PEG ratio of 3.51 and a beta of 0.51.

Squarespace (NYSE:SQSP) last announced 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 during the quarter, compared to analysts’ expectations of $263.41 million. During the same quarter in the previous year, the firm earned ($0.07) EPS. The firm’s revenue was up 18.3% on a year-over-year basis. As a group, research analysts expect that Squarespace will post 0.5 EPS for the current fiscal year.

Insider Activity

In other news, CEO Anthony Casalena sold 27,240 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $35.62, for a total transaction of $970,288.80. Following the completion of the transaction, the chief executive officer now directly owns 2,773,318 shares in the company, valued at approximately $98,785,587.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Paul Gubbay sold 2,500 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $36.81, for a total transaction of $92,025.00. Following the transaction, the insider now directly owns 43,686 shares of the company’s stock, valued at $1,608,081.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Anthony Casalena sold 27,240 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $35.62, for a total value of $970,288.80. Following the transaction, the chief executive officer now directly owns 2,773,318 shares in the company, valued at $98,785,587.16. The disclosure for this sale can be found here. Insiders sold 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 Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP boosted its holdings in shares of Squarespace by 124.8% during the third quarter. Wellington Management Group LLP now owns 7,015,353 shares of the company’s stock worth $203,235,000 after purchasing an additional 3,894,084 shares during the period. Vanguard Group Inc. increased its position in shares of Squarespace by 20.4% during the third quarter. Vanguard Group Inc. now owns 5,865,295 shares of the company’s stock valued at $169,918,000 after acquiring an additional 994,880 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of Squarespace by 291.3% during the third quarter. Lazard Asset Management LLC now owns 505,910 shares of the company’s stock valued at $14,655,000 after acquiring an additional 376,634 shares in the last quarter. Hawk Ridge Capital Management LP bought a new stake in shares of Squarespace during the fourth quarter valued at approximately $9,648,000. Finally, UBS Group AG increased its position in shares of Squarespace by 137.9% during the fourth quarter. UBS Group AG now owns 271,617 shares of the company’s stock valued at $8,966,000 after acquiring an additional 157,462 shares in the last quarter. 92.30% of the stock is 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.