Squarespace (NYSE:SQSP) PT Raised to $40.00

Squarespace (NYSE:SQSP) had its price target lifted by stock analysts at Barclays from $37.00 to $40.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential upside of 8.64% from the stock’s current price.

Several other equities analysts have also recently weighed in on SQSP. Raymond James initiated coverage on shares of Squarespace in a research report on Wednesday, March 27th. They issued an “outperform” rating and a $40.00 price target on the stock. Royal Bank of Canada raised their target price on Squarespace from $35.00 to $38.00 and gave the company a “sector perform” rating in a report on Wednesday. JMP Securities reiterated a “market outperform” rating and set a $45.00 price target on shares of Squarespace in a report on Tuesday, April 30th. Robert W. Baird raised Squarespace from a “neutral” rating to an “outperform” rating and increased their price target for the company from $30.00 to $39.00 in a research report on Monday, March 4th. Finally, B. Riley lifted their price objective on shares of Squarespace from $41.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Squarespace presently has an average rating of “Moderate Buy” and an average target price of $39.38.

Squarespace Stock Performance

Shares of Squarespace stock opened at $36.82 on Wednesday. Squarespace has a 52 week low of $26.70 and a 52 week high of $38.10. The stock has a 50 day moving average price of $35.01 and a two-hundred day moving average price of $32.07. The stock has a market capitalization of $5.03 billion, a PE ratio of -736.40, a price-to-earnings-growth ratio of 3.48 and a beta of 0.52.

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

Insiders Place Their Bets

In other news, Director Jonathan D. Klein sold 700 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $37.50, for a total transaction of $26,250.00. Following the completion of the sale, the director now owns 651,380 shares in the company, valued at approximately $24,426,750. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Squarespace news, CEO Anthony Casalena sold 67,230 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $31.83, for a total transaction of $2,139,930.90. Following the sale, the chief executive officer now directly owns 3,388,279 shares of the company’s stock, valued at $107,848,920.57. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jonathan D. Klein sold 700 shares of Squarespace stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $37.50, for a total transaction of $26,250.00. Following the completion of the transaction, the director now owns 651,380 shares of the company’s stock, valued at approximately $24,426,750. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 315,306 shares of company stock valued at $11,010,784. Company insiders own 47.14% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System grew its stake in Squarespace by 9.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 14,380 shares of the company’s stock valued at $524,000 after acquiring an additional 1,260 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Squarespace by 21.2% in the first quarter. ProShare Advisors LLC now owns 10,749 shares of the company’s stock worth $392,000 after purchasing an additional 1,880 shares during the period. Russell Investments Group Ltd. raised its position in shares of Squarespace by 5.0% in the first quarter. Russell Investments Group Ltd. now owns 253,812 shares of the company’s stock worth $9,263,000 after buying an additional 12,180 shares in the last quarter. Sei Investments Co. boosted its stake in Squarespace by 7.4% during the first quarter. Sei Investments Co. now owns 329,971 shares of the company’s stock valued at $12,024,000 after buying an additional 22,758 shares during the period. Finally, Principal Financial Group Inc. grew its position in Squarespace by 25.6% during the first quarter. Principal Financial Group Inc. now owns 39,361 shares of the company’s stock worth $1,434,000 after buying an additional 8,025 shares in the last quarter. 92.30% of the stock is owned by institutional investors.

Squarespace Company Profile

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.