Squarespace (NYSE:SQSP) Upgraded at Wedbush

Squarespace (NYSE:SQSPGet Rating) was upgraded by equities research analysts at Wedbush from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Friday, The Fly reports.

Several other equities research analysts have also recently issued reports on SQSP. Mizuho cut shares of Squarespace from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $35.00 to $22.00 in a research report on Monday, March 7th. Royal Bank of Canada reduced their price objective on shares of Squarespace from $39.00 to $22.00 and set a “sector perform” rating on the stock in a research report on Tuesday, March 8th. Citigroup assumed coverage on shares of Squarespace in a research report on Tuesday, April 19th. They set a “neutral” rating and a $25.00 price objective on the stock. The Goldman Sachs Group assumed coverage on shares of Squarespace in a report on Monday, May 2nd. They issued a “neutral” rating and a $24.00 target price for the company. Finally, Barclays cut their target price on shares of Squarespace from $40.00 to $29.00 and set an “equal weight” rating for the company in a report on Tuesday, March 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $43.39.

Squarespace stock opened at $21.44 on Friday. Squarespace has a 1 year low of $14.43 and a 1 year high of $64.71. The firm’s 50 day moving average price is $23.93 and its 200-day moving average price is $29.63.

In other Squarespace news, General Counsel Courtenay O’connor sold 6,557 shares of Squarespace stock in a transaction on Tuesday, February 22nd. The shares were sold at an average price of $26.89, for a total transaction of $176,317.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Several institutional investors and hedge funds have recently modified their holdings of SQSP. Morgan Stanley purchased a new stake in shares of Squarespace during the second quarter valued at $2,707,000. Wells Fargo & Company MN purchased a new stake in shares of Squarespace during the second quarter valued at $740,000. Deutsche Bank AG boosted its stake in shares of Squarespace by 119.5% during the third quarter. Deutsche Bank AG now owns 29,088 shares of the company’s stock valued at $1,124,000 after purchasing an additional 15,837 shares during the period. Advisor Group Holdings Inc. boosted its stake in shares of Squarespace by 278.9% during the third quarter. Advisor Group Holdings Inc. now owns 1,561 shares of the company’s stock valued at $60,000 after purchasing an additional 1,149 shares during the period. Finally, BlackRock Inc. purchased a new stake in shares of Squarespace during the third quarter valued at $13,302,000. 37.53% of the stock is owned by hedge funds and other institutional investors.

Squarespace Company Profile (Get Rating)

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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