Squarespace (NYSE:SQSP) Research Coverage Started at Berenberg Bank

Berenberg Bank assumed coverage on shares of Squarespace (NYSE:SQSP) in a research report released on Wednesday morning, Analyst Ratings Network reports. The firm issued a buy rating and a $42.00 price target on the stock.

SQSP has been the subject of several other research reports. Royal Bank of Canada cut their target price on Squarespace from $48.00 to $39.00 and set a sector perform rating for the company in a research report on Friday, November 19th. JMP Securities decreased their target price on Squarespace from $64.00 to $58.00 and set a market outperform rating on the stock in a report on Tuesday, November 9th. Truist Securities assumed coverage on Squarespace in a research note on Thursday, October 21st. They issued a buy rating and a $50.00 target price for the company. Mizuho reduced their price target on shares of Squarespace from $70.00 to $60.00 and set a buy rating on the stock in a research report on Friday, November 19th. Finally, Zacks Investment Research lowered shares of Squarespace from a buy rating to a hold rating in a report on Tuesday, November 16th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Buy and a consensus price target of $59.94.

Shares of SQSP stock opened at $29.55 on Wednesday. The stock has a 50 day moving average of $33.68 and a two-hundred day moving average of $42.66. Squarespace has a 12 month low of $25.68 and a 12 month high of $64.71.

Squarespace (NYSE:SQSP) last announced its quarterly earnings data on Monday, November 8th. The company reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.01). The business had revenue of $200.96 million during the quarter, compared to the consensus estimate of $197.96 million. During the same period in the prior year, the company earned $0.12 EPS. The company’s revenue for the quarter was up 23.8% on a year-over-year basis. On average, equities research analysts forecast that Squarespace will post -3.19 EPS for the current year.

In other news, General Counsel Courtenay O’connor sold 4,375 shares of Squarespace stock in a transaction that occurred on Monday, November 22nd. The shares were sold at an average price of $34.26, for a total value of $149,887.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Several large investors have recently added to or reduced their stakes in SQSP. Spruce House Investment Management LLC acquired a new position in shares of Squarespace in the second quarter valued at $4,342,000. General Atlantic L.P. bought a new stake in shares of Squarespace during the 2nd quarter worth about $1,328,471,000. Man Group plc acquired a new position in Squarespace in the 2nd quarter valued at about $1,338,000. Millennium Management LLC acquired a new position in Squarespace in the 2nd quarter valued at about $2,398,000. Finally, Vanguard Group Inc. acquired a new position in Squarespace in the 2nd quarter valued at about $88,968,000. 37.88% of the stock is owned by institutional investors and hedge funds.

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. The company offers websites, domains, e-commerce, tools for managing a social media presence, marketing tools, and scheduling capabilities.

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Analyst Recommendations for Squarespace (NYSE:SQSP)

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