Squarespace (NYSE:SQSP) PT Raised to $40.00

Squarespace (NYSE:SQSP) had its target price lifted by The Goldman Sachs Group from $36.00 to $40.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities research analysts have also issued reports on SQSP. Citigroup increased their price objective on shares of Squarespace from $40.00 to $42.00 and gave the stock a buy rating in a research report on Thursday, February 29th. William Blair reissued an outperform rating on shares of Squarespace in a research report on Wednesday, May 8th. B. Riley increased their price objective on shares of Squarespace from $41.00 to $43.00 and gave the stock a buy rating in a research report on Thursday, February 29th. 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 note on Wednesday, May 8th. Finally, Royal Bank of Canada lifted their price target on shares of Squarespace from $35.00 to $38.00 and gave the stock a sector perform rating in a research note on Wednesday, May 8th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Squarespace presently has a consensus rating of Hold and a consensus target price of $42.08.

Squarespace Stock Up 0.2 %

Shares of SQSP stock opened at $43.25 on Monday. Squarespace has a one year low of $26.70 and a one year high of $43.36. The company has a 50 day moving average price of $36.02 and a 200 day moving average price of $32.54.

Squarespace (NYSE:SQSP) last released 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 firm had revenue of $270.72 million for the quarter, compared to the consensus estimate of $263.41 million. During the same period in the prior year, the firm earned ($0.07) earnings per share. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. Equities analysts predict that Squarespace will post 0.44 earnings per share for the current year.

Insiders Place Their Bets

In other Squarespace news, CEO Anthony Casalena sold 67,230 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 3,388,279 shares of the company’s stock, valued at approximately $107,848,920.57. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Squarespace news, CEO Anthony Casalena sold 67,230 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 3,388,279 shares of the company’s stock, valued at approximately $107,848,920.57. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Nathan Gooden sold 5,129 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $31.85, for a total transaction of $163,358.65. Following the transaction, the chief financial officer now directly owns 66,503 shares of the company’s stock, valued at $2,118,120.55. The disclosure for this sale can be found here. Insiders sold a total of 484,789 shares of company stock valued at $17,903,473 in the last ninety days. Corporate insiders own 44.96% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SQSP. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Squarespace by 28.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,086 shares of the company’s stock valued at $263,000 after buying an additional 2,001 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Squarespace by 102.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 11,344 shares of the company’s stock valued at $329,000 after buying an additional 5,739 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Squarespace by 45.4% in the 3rd quarter. Principal Financial Group Inc. now owns 23,528 shares of the company’s stock valued at $682,000 after buying an additional 7,349 shares during the period. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in shares of Squarespace by 2.1% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 102,465 shares of the company’s stock valued at $2,968,000 after buying an additional 2,113 shares during the period. Finally, Versor Investments LP boosted its holdings in shares of Squarespace by 84.5% in the 3rd quarter. Versor Investments LP now owns 13,825 shares of the company’s stock valued at $401,000 after buying an additional 6,331 shares during the period. 92.30% of the stock is owned by institutional investors and hedge funds.

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.