Squarespace, Inc. (NYSE:SQSP) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Squarespace, Inc. (NYSE:SQSP) have been assigned an average recommendation of “Hold” from the fourteen ratings firms that are currently covering the company, MarketBeat reports. Ten investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $43.14.

A number of equities analysts have issued reports on the stock. UBS Group lifted their target price on shares of Squarespace from $44.00 to $46.50 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. Barclays lifted their target price on shares of Squarespace from $44.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 10th. Mizuho cut shares of Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 target price for the company. in a research report on Monday, August 5th. Finally, B. Riley downgraded shares of Squarespace from a “buy” rating to a “neutral” rating and set a $43.00 price target for the company. in a report on Tuesday, June 11th.

Squarespace Stock Up 0.1 %

Shares of NYSE SQSP opened at $46.43 on Friday. Squarespace has a 52 week low of $26.70 and a 52 week high of $46.48. The firm has a 50-day moving average price of $44.77 and a 200 day moving average price of $41.06. The stock has a market capitalization of $6.43 billion, a price-to-earnings ratio of -928.50, a price-to-earnings-growth ratio of 8.29 and a beta of 0.62.

Squarespace (NYSE:SQSP) last announced its earnings results on Friday, August 2nd. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The business had revenue of $296.80 million for the quarter, compared to the consensus estimate of $293.12 million. The company’s revenue was up 19.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.03 EPS. Equities research analysts expect that Squarespace will post 0.28 EPS for the current fiscal year.

Insider Activity at Squarespace

In related news, CEO Anthony Casalena sold 145,182 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $46.33, for a total value of $6,726,282.06. Following the completion of the sale, the chief executive officer now directly owns 1,349,263 shares in the company, valued at $62,511,354.79. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Paul Gubbay sold 2,500 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $46.29, for a total transaction of $115,725.00. Following the transaction, the insider now directly owns 46,269 shares of the company’s stock, valued at $2,141,792.01. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Anthony Casalena sold 145,182 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $46.33, for a total transaction of $6,726,282.06. Following the transaction, the chief executive officer now directly owns 1,349,263 shares in the company, valued at $62,511,354.79. The disclosure for this sale can be found here. Over the last three months, insiders sold 379,701 shares of company stock worth $17,069,289. 44.96% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Brooklyn FI LLC acquired a new stake in Squarespace in the first quarter valued at $679,000. Russell Investments Group Ltd. raised its holdings in Squarespace by 5.0% in the first quarter. Russell Investments Group Ltd. now owns 253,812 shares of the company’s stock valued at $9,263,000 after acquiring an additional 12,180 shares in the last quarter. UBS Group AG raised its holdings in Squarespace by 137.9% in the fourth quarter. UBS Group AG now owns 271,617 shares of the company’s stock valued at $8,966,000 after acquiring an additional 157,462 shares in the last quarter. Vanguard Group Inc. raised its holdings in Squarespace by 5.6% in the first quarter. Vanguard Group Inc. now owns 6,699,064 shares of the company’s stock valued at $244,114,000 after acquiring an additional 354,057 shares in the last quarter. Finally, Hawk Ridge Capital Management LP acquired a new stake in Squarespace in the fourth quarter valued at $9,648,000. 92.30% of the stock is owned by institutional investors and hedge funds.

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.