Squarespace (NYSE:SQSP) Rating Increased to Buy at Mizuho

Squarespace (NYSE:SQSPGet Free Report) was upgraded by research analysts at Mizuho from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Friday, Marketbeat.com reports. The brokerage currently has a $50.00 price objective on the stock, up from their prior price objective of $34.00. Mizuho’s price objective indicates a potential upside of 30.92% from the company’s current price.

Other analysts have also issued reports about the company. William Blair reiterated an “outperform” rating on shares of Squarespace in a research report on Wednesday. Piper Sandler reissued an “overweight” rating and set a $45.00 price target (up from $40.00) on shares of Squarespace in a research note on Wednesday. Royal Bank of Canada raised their price objective on shares of Squarespace from $35.00 to $38.00 and gave the company a “sector perform” rating in a research note on Wednesday. Barclays upped their target price on shares of Squarespace from $37.00 to $40.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Citigroup raised 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. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.62.

Check Out Our Latest Stock Report on SQSP

Squarespace Trading Up 3.7 %

Shares of NYSE SQSP opened at $38.19 on Friday. Squarespace has a 1-year low of $26.70 and a 1-year high of $38.30. The company has a 50-day moving average of $35.13 and a two-hundred day moving average of $32.15. The company has a market cap of $5.22 billion, a PE ratio of -763.80, a P/E/G ratio of 3.74 and a beta of 0.52.

Squarespace (NYSE:SQSPGet Free Report) last posted 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 business had revenue of $270.72 million during the quarter, compared to analysts’ expectations of $263.41 million. The business’s quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.07) earnings per share. As a group, equities research analysts forecast that Squarespace will post 0.51 earnings per share for the current year.

Insider Activity at Squarespace

In other Squarespace news, CEO Anthony Casalena sold 67,230 shares of the firm’s 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 in the company, valued at approximately $107,848,920.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Squarespace news, CEO Anthony Casalena sold 67,230 shares of Squarespace stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $31.83, for a total value of $2,139,930.90. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Courtenay O’connor sold 20,622 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $32.02, for a total value of $660,316.44. Following the completion of the sale, the general counsel now owns 44,189 shares in the company, valued at $1,414,931.78. The disclosure for this sale can be found here. In the last three months, insiders sold 315,306 shares of company stock worth $11,010,784. 47.14% of the stock is owned by company insiders.

Hedge Funds Weigh In On Squarespace

Large investors have recently bought and sold shares of the company. Hillsdale Investment Management Inc. lifted its position in shares of Squarespace by 8.5% in the first quarter. Hillsdale Investment Management Inc. now owns 144,280 shares of the company’s stock worth $5,258,000 after purchasing an additional 11,300 shares in the last quarter. Acadian Asset Management LLC lifted its position in Squarespace by 24.0% during the 1st quarter. Acadian Asset Management LLC now owns 1,637,361 shares of the company’s stock worth $59,643,000 after buying an additional 317,416 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Squarespace by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 6,699,064 shares of the company’s stock worth $244,114,000 after buying an additional 354,057 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Squarespace by 9.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 14,380 shares of the company’s stock worth $524,000 after buying an additional 1,260 shares during the last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of Squarespace by 21.2% in the 1st quarter. ProShare Advisors LLC now owns 10,749 shares of the company’s stock valued at $392,000 after acquiring an additional 1,880 shares in the last quarter. Institutional investors and hedge funds own 92.30% of the company’s stock.

About Squarespace

(Get Free Report)

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.

Read More

Analyst Recommendations for Squarespace (NYSE:SQSP)

Receive News & Ratings for Squarespace Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Squarespace and related companies with MarketBeat.com's FREE daily email newsletter.