UBS Group Reiterates Neutral Rating for Squarespace (NYSE:SQSP)

Squarespace (NYSE:SQSP)‘s stock had its “neutral” rating reiterated by investment analysts at UBS Group in a note issued to investors on Tuesday, Benzinga reports. They currently have a $44.00 price target on the stock, up from their previous price target of $43.00. UBS Group’s price target suggests a potential upside of 1.96% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Barclays boosted their price objective on Squarespace from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 8th. Raymond James reissued a “market perform” rating on shares of Squarespace in a research note on Monday. Piper Sandler reissued an “overweight” rating and set a $45.00 price objective (up from $40.00) on shares of Squarespace in a research note on Wednesday, May 8th. B. Riley boosted their price objective on Squarespace from $41.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Finally, The Goldman Sachs Group boosted their price objective on Squarespace from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Monday. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $42.08.

Squarespace Trading Down 0.1 %

Shares of SQSP stock opened at $43.16 on Tuesday. Squarespace has a 12-month low of $26.70 and a 12-month high of $43.36. The stock’s 50-day moving average price is $35.80 and its 200-day moving average price is $32.46. The stock has a market capitalization of $5.89 billion, a price-to-earnings ratio of -863.10, a price-to-earnings-growth ratio of 4.96 and a beta of 0.52.

Squarespace (NYSE:SQSP) last issued its 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 firm had revenue of $270.72 million during the quarter, compared to analysts’ expectations of $263.41 million. During the same quarter last year, the business earned ($0.07) earnings per share. The company’s revenue was up 18.3% on a year-over-year basis. As a group, research analysts predict that Squarespace will post 0.44 EPS for the current fiscal year.

Insider Activity

In related news, insider Paul Gubbay sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $43.21, for a total value of $108,025.00. Following the completion of the sale, the insider now owns 41,186 shares in the company, valued at $1,779,647.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Paul Gubbay sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $43.21, for a total value of $108,025.00. Following the completion of the sale, the insider now owns 41,186 shares in the company, valued at $1,779,647.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan D. Klein sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $43.15, for a total value of $4,315,000.00. Following the completion of the sale, the director now owns 504,133 shares of the company’s stock, valued at approximately $21,753,338.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 484,789 shares of company stock valued at $17,903,473. 44.96% of the stock is currently owned by insiders.

Institutional Trading of Squarespace

Hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP raised its position in shares of Squarespace by 18.1% in the 4th quarter. Wellington Management Group LLP now owns 8,284,051 shares of the company’s stock worth $273,457,000 after acquiring an additional 1,268,698 shares in the last quarter. Vanguard Group Inc. boosted its position in Squarespace by 5.6% during the first quarter. Vanguard Group Inc. now owns 6,699,064 shares of the company’s stock valued at $244,114,000 after purchasing an additional 354,057 shares in the last quarter. Acadian Asset Management LLC grew its stake in Squarespace by 24.0% in the first quarter. Acadian Asset Management LLC now owns 1,637,361 shares of the company’s stock valued at $59,643,000 after purchasing an additional 317,416 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Squarespace by 17.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 912,135 shares of the company’s stock valued at $26,425,000 after buying an additional 134,598 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Squarespace by 32.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 524,091 shares of the company’s stock valued at $15,183,000 after buying an additional 127,362 shares in the last quarter. Hedge funds and other 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.