Squarespace (NYSE:SQSP) Earns Neutral Rating from Analysts at Credit Suisse Group

Research analysts at Credit Suisse Group began coverage on shares of Squarespace (NYSE:SQSPGet Rating) in a research note issued on Tuesday, The Fly reports. The firm set a “neutral” rating on the stock.

A number of other equities analysts have also weighed in on the stock. Royal Bank of Canada reduced their target price on shares of Squarespace from $39.00 to $22.00 and set a “sector perform” rating for the company in a research note on Tuesday, March 8th. Citigroup began coverage on shares of Squarespace in a research note on Tuesday, April 19th. They issued a “neutral” rating and a $25.00 target price for the company. KeyCorp reduced their target price on shares of Squarespace from $35.00 to $30.00 and set an “overweight” rating for the company in a research note on Tuesday, March 8th. Raymond James reduced their target price on shares of Squarespace from $55.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, March 8th. Finally, Piper Sandler lowered shares of Squarespace from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $45.00 to $26.00 in a research note on Monday, April 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $43.39.

Shares of SQSP stock traded down $0.16 on Tuesday, hitting $20.59. The stock had a trading volume of 24,647 shares, compared to its average volume of 779,907. Squarespace has a twelve month low of $14.43 and a twelve month high of $64.71. The company has a fifty day moving average price of $22.59 and a two-hundred day moving average price of $27.78.

Squarespace (NYSE:SQSPGet Rating) last announced its quarterly earnings results on Thursday, May 12th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.62). The firm had revenue of $207.76 million for the quarter, compared to the consensus estimate of $204.44 million. Research analysts expect that Squarespace will post -0.33 earnings per share for the current year.

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Squarespace by 56.3% in the 1st quarter. Vanguard Group Inc. now owns 3,645,279 shares of the company’s stock valued at $93,392,000 after acquiring an additional 1,313,755 shares during the period. Riverbridge Partners LLC bought a new position in Squarespace in the 4th quarter valued at about $34,672,000. First Trust Advisors LP bought a new position in Squarespace in the 1st quarter valued at about $27,254,000. HighTower Advisors LLC bought a new position in Squarespace in the 3rd quarter valued at about $23,927,000. Finally, Bank of New York Mellon Corp raised its holdings in Squarespace by 953.4% in the 1st quarter. Bank of New York Mellon Corp now owns 441,633 shares of the company’s stock valued at $11,314,000 after acquiring an additional 399,710 shares during the period. 37.53% of the stock is currently owned by institutional investors.

About Squarespace (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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