Barclays Cuts Squarespace (NYSE:SQSP) Price Target to $24.00

Squarespace (NYSE:SQSPGet Rating) had its price objective decreased by Barclays from $25.00 to $24.00 in a research note published on Tuesday morning, The Fly reports. Barclays currently has an equal weight rating on the stock.

Other analysts have also issued research reports about the stock. Piper Sandler lowered shares of Squarespace from an overweight rating to a neutral rating and decreased their target price for the stock from $45.00 to $26.00 in a research report on Monday, April 25th. Royal Bank of Canada decreased their target price on shares of Squarespace from $39.00 to $22.00 and set a sector perform rating on the stock in a research report on Tuesday, March 8th. Citigroup initiated coverage on shares of Squarespace in a research report on Tuesday, April 19th. They set a neutral rating and a $25.00 target price on the stock. KeyCorp decreased their target price on shares of Squarespace from $35.00 to $30.00 and set an overweight rating on the stock in a research report on Tuesday, March 8th. Finally, Wedbush upgraded shares of Squarespace from a neutral rating to an outperform rating in a report on Friday, May 13th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Squarespace currently has an average rating of Moderate Buy and a consensus target price of $37.88.

Shares of SQSP opened at $21.80 on Tuesday. The firm has a 50 day simple moving average of $20.58 and a 200-day simple moving average of $25.81. Squarespace has a 1-year low of $14.43 and a 1-year high of $64.69.

Squarespace (NYSE:SQSPGet Rating) last issued its quarterly earnings data on Thursday, May 12th. The company reported ($0.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.62). The firm had revenue of $207.76 million for the quarter, compared to analyst estimates of $204.44 million. As a group, sell-side analysts expect that Squarespace will post -0.4 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. Captrust Financial Advisors boosted its position in Squarespace by 2,128.1% during the 1st quarter. Captrust Financial Advisors now owns 1,270 shares of the company’s stock worth $33,000 after purchasing an additional 1,213 shares during the period. Fifth Third Bancorp acquired a new position in Squarespace in the 4th quarter worth $50,000. Advisors Asset Management Inc. acquired a new position in Squarespace in the 1st quarter worth $46,000. Compagnie Lombard Odier SCmA lifted its holdings in Squarespace by 100.0% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 2,000 shares of the company’s stock worth $59,000 after buying an additional 1,000 shares in the last quarter. Finally, Parkside Financial Bank & Trust acquired a new position in Squarespace in the 1st quarter worth $58,000. 37.53% of the stock is owned by hedge funds and other institutional investors.

About Squarespace (Get Rating)

Squarespace, Inc operates platform for businesses and independent creators to build online presence, grow their brands, and manage their businesses across the internet. Its suite of integrated products enables users to manage their projects and businesses through websites, domains, e-commerce, marketing tools, and scheduling, as well as tools for managing a social media presence.

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