Squarespace (NYSE:SQSP) Price Target Raised to $35.00 at Piper Sandler

Squarespace (NYSE:SQSP – Get Rating) had its price objective hoisted by Piper Sandler from $30.00 to $35.00 in a report released on Wednesday, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research firms also recently issued reports on SQSP. Wolfe Research started coverage on Squarespace in a report on Thursday, January 5th. They issued a peer perform rating for the company. Barclays raised their price target on Squarespace from $24.00 to $28.00 and gave the company an equal weight rating in a report on Wednesday. KeyCorp reduced their price target on Squarespace from $25.00 to $22.00 and set an overweight rating for the company in a report on Wednesday, November 9th. Credit Suisse Group reduced their price target on Squarespace from $25.00 to $24.00 and set a neutral rating for the company in a report on Wednesday, November 9th. Finally, Mizuho raised their price target on Squarespace from $20.00 to $26.00 and gave the company a neutral rating in a report on Wednesday. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $28.36.

Squarespace Trading Down 1.1 %

SQSP opened at $27.25 on Wednesday. The stock has a fifty day simple moving average of $23.10 and a two-hundred day simple moving average of $21.89. Squarespace has a 12-month low of $14.43 and a 12-month high of $30.69.

Insider Activity at Squarespace

In related news, General Counsel Courtenay O’connor sold 21,801 shares of the stock in a transaction on Friday, February 24th. The stock was sold at an average price of $23.14, for a total transaction of $504,475.14. Following the sale, the general counsel now directly owns 38,216 shares of the company’s stock, valued at $884,318.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 45.51% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Squarespace

Several institutional investors have recently modified their holdings of the business. Itau Unibanco Holding S.A. purchased a new position in Squarespace in the third quarter worth about $26,000. Point72 Middle East FZE purchased a new position in Squarespace in the fourth quarter worth about $30,000. Captrust Financial Advisors boosted its position in Squarespace by 2,128.1% in the first quarter. Captrust Financial Advisors now owns 1,270 shares of the company’s stock worth $33,000 after purchasing an additional 1,213 shares during the last quarter. Clear Street Markets LLC purchased a new position in Squarespace in the fourth quarter worth about $43,000. Finally, Advisors Asset Management Inc. purchased a new position in Squarespace in the first quarter worth about $46,000. 40.90% of the stock is owned by hedge funds and other institutional investors.

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.