Squarespace, Inc. (NYSE:SQSP) Given Average Recommendation of “Moderate Buy” by Analysts

Squarespace, Inc. (NYSE:SQSP) has been given an average rating of “Moderate Buy” by the fifteen analysts that are covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $38.54.

A number of equities research analysts recently commented on SQSP shares. B. Riley increased their price target on Squarespace from $41.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Citigroup raised their target price on Squarespace from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Royal Bank of Canada raised their target price on Squarespace from $32.00 to $35.00 and gave the company a “sector perform” rating in a research report on Thursday, February 29th. Mizuho raised their target price on Squarespace from $32.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Finally, Barclays raised their target price on Squarespace from $34.00 to $37.00 and gave the company an “equal weight” rating in a research report on Thursday, February 29th.

Squarespace Trading Up 0.2 %

NYSE SQSP opened at $35.29 on Wednesday. The firm has a market capitalization of $4.82 billion, a P/E ratio of -705.70, a PEG ratio of 3.61 and a beta of 0.51. The business has a fifty day simple moving average of $33.94 and a 200 day simple moving average of $31.40. Squarespace has a 12 month low of $25.59 and a 12 month high of $37.89.

Squarespace (NYSE:SQSP) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.12). The company had revenue of $270.72 million during the quarter, compared to analyst estimates of $263.41 million. The company’s revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.07) earnings per share. As a group, sell-side analysts predict that Squarespace will post 0.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other Squarespace news, CEO Anthony Casalena sold 67,230 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $31.83, for a total value of $2,139,930.90. Following the completion of the transaction, the chief executive officer now owns 3,388,279 shares in the company, valued at approximately $107,848,920.57. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Nathan Gooden sold 5,129 shares of Squarespace stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $31.85, for a total transaction of $163,358.65. Following the completion of the sale, the chief financial officer now owns 66,503 shares in the company, valued at approximately $2,118,120.55. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Anthony Casalena sold 67,230 shares of Squarespace stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $31.83, for a total value of $2,139,930.90. Following the sale, the chief executive officer now owns 3,388,279 shares of the company’s stock, valued at approximately $107,848,920.57. The disclosure for this sale can be found here. Insiders sold a total of 353,143 shares of company stock worth $11,870,412 in the last quarter. 47.14% of the stock is owned by company insiders.

Institutional Trading of Squarespace

A number of large investors have recently modified their holdings of SQSP. Wellington Management Group LLP boosted its position in shares of Squarespace by 124.8% during the 3rd quarter. Wellington Management Group LLP now owns 7,015,353 shares of the company’s stock valued at $203,235,000 after acquiring an additional 3,894,084 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Squarespace by 56.3% during 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 last quarter. First Trust Advisors LP bought a new stake in shares of Squarespace during the 1st quarter valued at about $27,254,000. BlackRock Inc. raised its holdings in shares of Squarespace by 38.7% during the 2nd quarter. BlackRock Inc. now owns 3,427,924 shares of the company’s stock valued at $108,117,000 after buying an additional 956,920 shares in the last quarter. Finally, Two Sigma Advisers LP raised its holdings in shares of Squarespace by 1,608.1% during the 1st quarter. Two Sigma Advisers LP now owns 526,100 shares of the company’s stock valued at $16,714,000 after buying an additional 495,300 shares in the last quarter. Institutional investors own 92.30% of the company’s stock.

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.