Squarespace, Inc. (NYSE:SQSP) Receives Average Rating of “Hold” from Analysts

Shares of Squarespace, Inc. (NYSE:SQSP) have been given an average rating of “Hold” by the fourteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $43.14.

A number of research firms have recently commented on SQSP. Barclays increased their price objective on shares of Squarespace from $44.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 10th. B. Riley downgraded Squarespace from a “buy” rating to a “neutral” rating and set a $43.00 price target for the company. in a research note on Tuesday, June 11th. Mizuho lowered Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 price target on the stock. in a research report on Monday, August 5th. Finally, UBS Group increased their price objective on Squarespace from $44.00 to $46.50 and gave the company a “neutral” rating in a report on Tuesday, September 10th.

Insiders Place Their Bets

In other news, insider Paul Gubbay sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $43.72, for a total value of $109,300.00. Following the transaction, the insider now owns 39,986 shares of the company’s stock, valued at $1,748,187.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Squarespace news, CEO Anthony Casalena sold 60,012 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $43.52, for a total value of $2,611,722.24. Following the completion of the sale, the chief executive officer now owns 2,092,872 shares of the company’s stock, valued at approximately $91,081,789.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Gubbay sold 2,500 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $43.72, for a total transaction of $109,300.00. Following the transaction, the insider now owns 39,986 shares in the company, valued at approximately $1,748,187.92. The disclosure for this sale can be found here. Insiders sold 379,701 shares of company stock worth $17,069,289 over the last three months. Insiders own 44.96% of the company’s stock.

Institutional Investors Weigh In On Squarespace

Several institutional investors have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Squarespace during the 2nd quarter valued at $71,000. CWM LLC raised its stake in Squarespace by 185.6% in the second quarter. CWM LLC now owns 2,016 shares of the company’s stock valued at $88,000 after purchasing an additional 1,310 shares in the last quarter. Quest Partners LLC lifted its position in Squarespace by 1,828.9% during the second quarter. Quest Partners LLC now owns 2,739 shares of the company’s stock worth $120,000 after purchasing an additional 2,597 shares during the period. Sagefield Capital LP bought a new position in Squarespace in the 2nd quarter valued at about $197,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Squarespace in the 2nd quarter valued at approximately $245,000. 92.30% of the stock is currently owned by institutional investors.

Squarespace Stock Performance

Shares of Squarespace stock opened at $46.40 on Friday. The firm has a market cap of $6.38 billion, a PE ratio of -928.00, a P/E/G ratio of 8.29 and a beta of 0.62. The business’s 50 day simple moving average is $44.82 and its 200 day simple moving average is $41.10. Squarespace has a 52-week low of $26.70 and a 52-week high of $46.48.

Squarespace (NYSE:SQSP) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The firm had revenue of $296.80 million for the quarter, compared to the consensus estimate of $293.12 million. During the same quarter in the previous year, the business earned $0.03 EPS. The firm’s revenue was up 19.9% compared to the same quarter last year. As a group, equities research analysts predict that Squarespace will post 0.28 EPS 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.