Brokerages Set Squarespace, Inc. (NYSE:SQSP) PT at $38.54

Shares of Squarespace, Inc. (NYSE:SQSP) have received a consensus rating of “Moderate Buy” from the fifteen ratings firms that are presently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $38.54.

Several brokerages have recently weighed in on SQSP. Mizuho increased their price objective on shares of Squarespace from $32.00 to $34.00 and gave the company a “neutral” 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 company an “outperform” rating in a research note on Monday, March 18th. Barclays upped their price target on shares of Squarespace from $34.00 to $37.00 and gave the company an “equal weight” rating in a research note on Thursday, February 29th. B. Riley upped their price target on shares of Squarespace from $41.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Finally, Royal Bank of Canada upped their price target on shares of Squarespace from $32.00 to $35.00 and gave the company a “sector perform” rating in a research note on Thursday, February 29th.

Squarespace Price Performance

Shares of SQSP opened at $36.31 on Wednesday. The firm has a market capitalization of $4.96 billion, a PE ratio of -726.20, a PEG ratio of 3.40 and a beta of 0.51. The company’s 50-day moving average is $34.25 and its 200-day moving average is $31.62. Squarespace has a fifty-two week low of $25.59 and a fifty-two week high of $37.89.

Squarespace (NYSE:SQSP) last issued its quarterly earnings data 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). The firm had revenue of $270.72 million for the quarter, compared to the consensus estimate of $263.41 million. Squarespace’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.07) earnings per share. Analysts predict that Squarespace will post 0.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Squarespace news, Director Jonathan D. Klein sold 700 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $37.50, for a total transaction of $26,250.00. Following the sale, the director now directly owns 651,380 shares in the company, valued at $24,426,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Anthony Casalena sold 45,389 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $35.57, for a total value of $1,614,486.73. Following the sale, the chief executive officer now directly owns 2,877,107 shares in the company, valued at approximately $102,338,695.99. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jonathan D. Klein sold 700 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $37.50, for a total transaction of $26,250.00. Following the completion of the sale, the director now owns 651,380 shares in the company, valued at $24,426,750. The disclosure for this sale can be found here. Insiders have sold 401,032 shares of company stock worth $13,576,924 over the last ninety days. Corporate insiders own 47.14% of the company’s stock.

Institutional Investors Weigh In On Squarespace

A number of hedge funds have recently made changes to their positions in the stock. Amalgamated Bank boosted its stake in shares of Squarespace by 12.4% in the 3rd quarter. Amalgamated Bank now owns 5,106 shares of the company’s stock valued at $148,000 after purchasing an additional 565 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Squarespace by 6.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,658 shares of the company’s stock valued at $319,000 after buying an additional 572 shares during the last quarter. Diversified Trust Co raised its holdings in Squarespace by 13.1% in the 1st quarter. Diversified Trust Co now owns 9,561 shares of the company’s stock valued at $348,000 after buying an additional 1,111 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Squarespace by 6.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 20,733 shares of the company’s stock valued at $756,000 after buying an additional 1,340 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in Squarespace by 5.8% in the 4th quarter. Teacher Retirement System of Texas now owns 24,419 shares of the company’s stock valued at $806,000 after buying an additional 1,349 shares during the last quarter. 92.30% of the stock is currently owned by institutional investors and hedge funds.

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.