Research Analysts Set Expectations for Squarespace, Inc.’s FY2028 Earnings (NYSE:SQSP)

Squarespace, Inc. (NYSE:SQSP) – Stock analysts at B. Riley lifted their FY2028 earnings estimates for Squarespace in a research report issued on Tuesday, April 23rd. B. Riley analyst N. Khan now forecasts that the company will post earnings of $2.10 per share for the year, up from their prior estimate of $1.99. B. Riley has a “Buy” rating and a $43.00 price target on the stock. The consensus estimate for Squarespace’s current full-year earnings is $0.50 per share.

Squarespace (NYSE:SQSP) last posted its earnings results on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.12). The business had revenue of $270.72 million for the quarter, compared to the consensus estimate of $263.41 million. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period last year, the company earned ($0.07) earnings per share.

Other analysts also recently issued reports about the stock. Piper Sandler reaffirmed an “overweight” rating and set a $40.00 price objective on shares of Squarespace in a report on Thursday, February 29th. Citigroup upped their price objective on shares of Squarespace from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Raymond James assumed coverage on shares of Squarespace in a report on Wednesday, March 27th. They set an “outperform” rating and a $40.00 price objective for the company. Barclays upped their price objective on shares of Squarespace from $34.00 to $37.00 and gave the stock an “equal weight” rating in a report on Thursday, February 29th. Finally, Royal Bank of Canada upped their target price on shares of Squarespace from $32.00 to $35.00 and gave the company a “sector perform” rating in a research note on Thursday, February 29th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $38.54.

Squarespace Stock Down 1.7 %

SQSP stock opened at $35.69 on Wednesday. The company has a market capitalization of $4.87 billion, a price-to-earnings ratio of -713.80, a P/E/G ratio of 3.49 and a beta of 0.51. Squarespace has a 12 month low of $25.59 and a 12 month high of $37.89. The firm has a 50 day moving average of $34.30 and a two-hundred day moving average of $31.64.

Insider Activity

In other news, CEO Anthony Casalena sold 66,420 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $32.36, for a total value of $2,149,351.20. Following the completion of the transaction, the chief executive officer now owns 3,521,896 shares in the company, valued at approximately $113,968,554.56. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Anthony Casalena sold 66,420 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $32.36, for a total transaction of $2,149,351.20. Following the completion of the sale, the chief executive officer now owns 3,521,896 shares in the company, valued at approximately $113,968,554.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Gubbay sold 2,500 shares of the stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $36.81, for a total transaction of $92,025.00. Following the sale, the insider now owns 43,686 shares of the company’s stock, valued at approximately $1,608,081.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 401,032 shares of company stock worth $13,576,924. 47.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Squarespace

A number of hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in Squarespace during the 3rd quarter worth about $405,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Squarespace by 28.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,086 shares of the company’s stock worth $263,000 after acquiring an additional 2,001 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Squarespace by 102.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 11,344 shares of the company’s stock worth $329,000 after acquiring an additional 5,739 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Squarespace by 45.4% during the 3rd quarter. Principal Financial Group Inc. now owns 23,528 shares of the company’s stock worth $682,000 after acquiring an additional 7,349 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd grew its holdings in Squarespace by 2.1% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 102,465 shares of the company’s stock worth $2,968,000 after acquiring an additional 2,113 shares during the last quarter. Institutional investors and hedge funds 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.