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Squarespace, Inc. (NYSE:SQSP – Get Rating) has received an average recommendation of “Hold” from the fifteen analysts that are currently covering the firm, Marketbeat reports. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $26.45.
SQSP has been the subject of several research reports. Barclays reduced their price objective on Squarespace from $25.00 to $24.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 21st. Credit Suisse Group started coverage on Squarespace in a research report on Tuesday, May 31st. They issued a “neutral” rating and a $25.00 target price for the company. Wedbush raised Squarespace from a “neutral” rating to an “outperform” rating in a research report on Friday, May 13th. Piper Sandler reduced their target price on Squarespace from $26.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, July 26th. Finally, Citigroup initiated coverage on Squarespace in a report on Tuesday, April 19th. They set a “neutral” rating and a $25.00 price objective for the company.
Squarespace Trading Down 0.1 %
Shares of SQSP stock opened at $21.78 on Friday. Squarespace has a 12 month low of $14.43 and a 12 month high of $48.89. The business’s 50 day moving average is $21.46 and its two-hundred day moving average is $23.83.
Squarespace (NYSE:SQSP – Get Rating) last posted its quarterly earnings data on Monday, July 25th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.36. The business had revenue of $212.70 million during the quarter, compared to the consensus estimate of $212.01 million. During the same period in the prior year, the company posted ($3.22) earnings per share. The firm’s revenue was up 8.5% compared to the same quarter last year. As a group, research analysts forecast that Squarespace will post -0.09 EPS for the current year.
Insider Buying and Selling
In related news, major shareholder Ventures Growth I. Parall Index sold 29,537 shares of Squarespace stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $20.00, for a total value of $590,740.00. Following the completion of the sale, the insider now directly owns 551,888 shares in the company, valued at $11,037,760. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, major shareholder Ventures Growth I. Parall Index sold 29,537 shares of the business’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $20.00, for a total transaction of $590,740.00. Following the completion of the transaction, the insider now directly owns 551,888 shares in the company, valued at approximately $11,037,760. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Venture Growth Associate Index sold 483,153 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $21.75, for a total value of $10,508,577.75. The disclosure for this sale can be found here. Insiders sold a total of 548,486 shares of company stock worth $11,816,796 over the last three months. 45.51% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Squarespace
Institutional investors have recently modified their holdings of the business. Commonwealth Equity Services LLC bought a new stake in Squarespace in the 4th quarter valued at approximately $298,000. Fifth Third Bancorp bought a new stake in Squarespace in the 4th quarter valued at approximately $50,000. Oppenheimer Asset Management Inc. bought a new stake in Squarespace in the 4th quarter valued at approximately $252,000. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Squarespace by 80.3% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 19,033 shares of the company’s stock valued at $561,000 after acquiring an additional 8,478 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Squarespace by 198.6% in the 4th quarter. Northern Trust Corp now owns 149,932 shares of the company’s stock valued at $4,423,000 after acquiring an additional 99,728 shares in the last quarter. Institutional investors own 37.53% of the company’s stock.
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. Its suite of integrated products enables users to manage their projects and businesses through websites, domains, e-commerce, marketing tools, and scheduling, as well as tools for managing a social media presence.
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