Squarespace (NYSE:SQSP) Price Target Increased to $30.00 by Analysts at Citigroup

Squarespace (NYSE:SQSP – Get Rating) had its price objective upped by Citigroup from $21.00 to $30.00 in a report published on Wednesday, The Fly reports. They currently have a neutral rating on the stock.

SQSP has been the subject of several other reports. Barclays boosted their price target on Squarespace from $24.00 to $28.00 and gave the company an equal weight rating in a research note on Wednesday. Wolfe Research started coverage on Squarespace in a research note on Thursday, January 5th. They issued a peer perform rating for the company. Piper Sandler upgraded Squarespace from a neutral rating to an overweight rating and upped their target price for the company from $22.00 to $30.00 in a research report on Monday, November 21st. Mizuho upped their target price on Squarespace from $20.00 to $26.00 and gave the company a neutral rating in a research report on Wednesday. Finally, KeyCorp cut their target price on Squarespace from $25.00 to $22.00 and set an overweight rating for the company in a research report on Wednesday, November 9th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $28.36.

Squarespace Stock Performance

SQSP opened at $27.25 on Wednesday. The business has a fifty day simple moving average of $23.10 and a 200 day simple moving average of $21.89. Squarespace has a 1 year low of $14.43 and a 1 year high of $30.69.

Insider Buying and Selling

In related news, General Counsel Courtenay O’connor sold 7,028 shares of the company’s stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $25.23, for a total transaction of $177,316.44. Following the completion of the sale, the general counsel now directly owns 38,216 shares in the company, valued at approximately $964,189.68. The sale was disclosed in a filing with the SEC, which is available through this link. 45.51% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Squarespace

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Alliancebernstein L.P. increased its holdings in Squarespace by 15.7% in the 4th quarter. Alliancebernstein L.P. now owns 35,194 shares of the company’s stock worth $780,000 after purchasing an additional 4,785 shares in the last quarter. Point72 Middle East FZE acquired a new position in Squarespace in the 4th quarter worth about $30,000. State of Wyoming acquired a new position in Squarespace in the 4th quarter worth about $179,000. State of Tennessee Treasury Department increased its holdings in Squarespace by 44.4% in the 4th quarter. State of Tennessee Treasury Department now owns 8,985 shares of the company’s stock worth $199,000 after purchasing an additional 2,762 shares in the last quarter. Finally, Captrust Financial Advisors acquired a new position in Squarespace in the 4th quarter worth about $216,000. Institutional investors and hedge funds own 40.90% of the company’s stock.

Squarespace Company Profile

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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.