Squarespace, Inc. (NYSE:SQSP) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Squarespace, Inc. (NYSE:SQSP) have earned an average recommendation of “Moderate Buy” from the fifteen research firms that are covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $38.54.

Several equities research analysts have recently weighed in on SQSP shares. Piper Sandler reaffirmed an “overweight” rating and issued a $40.00 price target on shares of Squarespace in a research report on Thursday, February 29th. Royal Bank of Canada upped their price target on shares of Squarespace from $32.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 29th. Barclays upped their price target on shares of Squarespace from $34.00 to $37.00 and gave the stock an “equal weight” 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 stock an “outperform” rating in a research report on Monday, March 18th. Finally, Citigroup upped their price target 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.

Insiders Place Their Bets

In other Squarespace news, CFO Nathan Gooden sold 5,129 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $35.07, for a total value of $179,874.03. Following the completion of the transaction, the chief financial officer now owns 61,374 shares of the company’s stock, valued at $2,152,386.18. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Squarespace news, CFO Nathan Gooden sold 5,129 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $35.07, for a total value of $179,874.03. Following the completion of the transaction, the chief financial officer now owns 61,374 shares of the company’s stock, valued at $2,152,386.18. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Courtenay O’connor sold 20,622 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $32.02, for a total transaction of $660,316.44. Following the completion of the transaction, the general counsel now directly owns 44,189 shares of the company’s stock, valued at approximately $1,414,931.78. The disclosure for this sale can be found here. Over the last quarter, insiders sold 371,988 shares of company stock valued at $11,947,435. Insiders own 47.14% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Quarry LP purchased a new position in shares of Squarespace during the second quarter worth $25,000. Sunbelt Securities Inc. purchased a new position in shares of Squarespace during the first quarter worth $26,000. Neo Ivy Capital Management purchased a new position in shares of Squarespace during the second quarter worth $31,000. Comerica Bank purchased a new position in shares of Squarespace during the third quarter worth $31,000. Finally, Captrust Financial Advisors raised its holdings in shares of Squarespace by 2,128.1% during the first 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 last quarter. Hedge funds and other institutional investors own 92.30% of the company’s stock.

Squarespace Price Performance

Squarespace stock opened at $36.53 on Friday. The stock has a market cap of $4.99 billion, a price-to-earnings ratio of -730.60, a price-to-earnings-growth ratio of 3.45 and a beta of 0.49. Squarespace has a 1 year low of $25.59 and a 1 year high of $36.94. The firm has a 50-day moving average of $32.63 and a two-hundred day moving average of $30.65.

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

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.