Analysts Set Squarespace, Inc. (NYSE:SQSP) Price Target at $40.62

Shares of Squarespace, Inc. (NYSE:SQSPGet Free Report) have been assigned an average rating of “Hold” from the sixteen ratings firms that are covering the firm, MarketBeat.com reports. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $42.08.

A number of equities research analysts have recently issued reports on SQSP shares. The Goldman Sachs Group boosted their price target on shares of Squarespace from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, May 13th. Royal Bank of Canada lifted their target price on shares of Squarespace from $35.00 to $38.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 8th. Robert W. Baird reaffirmed a “neutral” rating and issued a $44.00 price target (down from $45.00) on shares of Squarespace in a research note on Monday, May 13th. UBS Group reissued a “neutral” rating and set a $44.00 price objective (up previously from $43.00) on shares of Squarespace in a research report on Tuesday, May 14th. Finally, William Blair reaffirmed an “outperform” rating on shares of Squarespace in a research report on Wednesday, May 8th.

Read Our Latest Report on Squarespace

Squarespace Stock Up 1.3 %

SQSP opened at $43.81 on Friday. The firm has a market cap of $5.98 billion, a PE ratio of -876.20, a P/E/G ratio of 4.96 and a beta of 0.52. The business has a fifty day simple moving average of $36.26 and a 200-day simple moving average of $32.68. Squarespace has a fifty-two week low of $26.70 and a fifty-two week high of $43.85.

Squarespace (NYSE:SQSPGet Free Report) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.12). The company had revenue of $270.72 million during the quarter, compared to analyst estimates of $263.41 million. The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period last year, the business earned ($0.07) EPS. On average, equities research analysts anticipate that Squarespace will post 0.44 EPS for the current fiscal year.

Insider Transactions at Squarespace

In other news, insider Paul Gubbay sold 2,500 shares of Squarespace stock in a transaction on Monday, May 13th. The stock was sold at an average price of $43.21, for a total transaction of $108,025.00. Following the completion of the sale, the insider now owns 41,186 shares of the company’s stock, valued at $1,779,647.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Squarespace news, insider Paul Gubbay sold 2,500 shares of Squarespace stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $43.21, for a total value of $108,025.00. Following the transaction, the insider now owns 41,186 shares in the company, valued at $1,779,647.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Nathan Gooden sold 5,129 shares of the business’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 sale, the chief financial officer now directly owns 66,503 shares in the company, valued at approximately $2,118,120.55. The disclosure for this sale can be found here. In the last 90 days, insiders sold 484,789 shares of company stock worth $17,903,473. 44.96% of the stock is owned by insiders.

Institutional Trading of Squarespace

Large investors have recently modified their holdings of the stock. Sunbelt Securities Inc. grew its position in Squarespace by 195.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 2,477 shares of the company’s stock valued at $72,000 after purchasing an additional 1,638 shares during the period. International Assets Investment Management LLC lifted its position in shares of Squarespace by 3,201.0% during the 4th quarter. International Assets Investment Management LLC now owns 3,301 shares of the company’s stock worth $100,000 after buying an additional 3,201 shares in the last quarter. Amalgamated Bank lifted its holdings in Squarespace by 12.4% during the third quarter. Amalgamated Bank now owns 5,106 shares of the company’s stock worth $148,000 after acquiring an additional 565 shares during the period. Ameritas Investment Partners Inc. raised its position in Squarespace by 8.4% in the first quarter. Ameritas Investment Partners Inc. now owns 5,666 shares of the company’s stock worth $206,000 after acquiring an additional 437 shares during the period. Finally, Handelsbanken Fonder AB purchased a new stake in shares of Squarespace during the 4th quarter worth approximately $244,000. 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.

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Analyst Recommendations for Squarespace (NYSE:SQSP)

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