Analysts Set Squarespace, Inc. (NYSE:SQSP) PT at $38.42

Squarespace, Inc. (NYSE:SQSP) has received a consensus rating of “Moderate Buy” from the fifteen brokerages that are currently covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $38.54.

Several brokerages recently commented on SQSP. Royal Bank of Canada upped their price target on shares of Squarespace from $32.00 to $35.00 and gave the company a “sector perform” rating in a research report on Thursday, February 29th. JMP Securities upped their price target on shares of Squarespace from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, March 18th. Barclays upped their price target on shares of Squarespace from $34.00 to $37.00 and gave the company an “equal weight” rating in a research report on Thursday, February 29th. Piper Sandler reiterated an “overweight” rating and issued a $40.00 price objective on shares of Squarespace in a research note on Thursday, February 29th. Finally, Raymond James assumed coverage on shares of Squarespace in a research note on Wednesday. They issued an “outperform” rating and a $40.00 price objective on the stock.

Insider Transactions at Squarespace

In other news, CEO Anthony Casalena sold 40,835 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $31.70, for a total transaction of $1,294,469.50. Following the transaction, the chief executive officer now owns 3,728,139 shares in the company, valued at approximately $118,182,006.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Nathan Gooden sold 5,129 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $31.85, for a total value of $163,358.65. Following the transaction, the chief financial officer now directly owns 66,503 shares in the company, valued at approximately $2,118,120.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Anthony Casalena sold 40,835 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $31.70, for a total transaction of $1,294,469.50. Following the completion of the transaction, the chief executive officer now owns 3,728,139 shares in the company, valued at $118,182,006.30. The disclosure for this sale can be found here. Insiders have sold a total of 371,988 shares of company stock worth $11,947,435 in the last 90 days. 47.14% of the stock is owned by insiders.

Institutional Trading of Squarespace

A number of hedge funds have recently bought and sold shares of SQSP. Advisor Group Holdings Inc. boosted its holdings in Squarespace by 93.2% in the 1st quarter. Advisor Group Holdings Inc. now owns 3,336 shares of the company’s stock valued at $85,000 after purchasing an additional 1,609 shares during the period. JPMorgan Chase & Co. boosted its holdings in Squarespace by 317.0% in the 1st quarter. JPMorgan Chase & Co. now owns 56,433 shares of the company’s stock valued at $1,446,000 after purchasing an additional 42,900 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in Squarespace in the 1st quarter valued at $207,000. Bank of New York Mellon Corp boosted its holdings in Squarespace by 953.4% in the 1st quarter. Bank of New York Mellon Corp now owns 441,633 shares of the company’s stock valued at $11,314,000 after purchasing an additional 399,710 shares during the period. Finally, US Bancorp DE boosted its holdings in Squarespace by 44.8% in the 1st quarter. US Bancorp DE now owns 12,704 shares of the company’s stock valued at $326,000 after purchasing an additional 3,931 shares during the period. 92.30% of the stock is owned by institutional investors.

Squarespace Price Performance

SQSP stock opened at $36.53 on Friday. Squarespace has a 12 month low of $25.59 and a 12 month high of $36.94. The firm has a market cap of $4.99 billion, a PE ratio of -730.60, a P/E/G ratio of 3.45 and a beta of 0.49. The firm has a 50 day simple moving average of $32.63 and a 200 day simple moving average of $30.65.

Squarespace (NYSE:SQSP) last released its earnings results on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.12). The business had revenue of $270.72 million for the quarter, compared to analyst estimates of $263.41 million. Squarespace had a negative net margin of 0.70% and a negative return on equity of 2.24%. The firm’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.07) earnings per share. As a group, sell-side analysts expect that Squarespace will post 0.52 earnings per share for the current year.

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.