Squarespace’s (SQSP) “Market Outperform” Rating Reiterated at JMP Securities

Squarespace (NYSE:SQSP)‘s stock had its “market outperform” rating reaffirmed by analysts at JMP Securities in a note issued to investors on Tuesday, Benzinga reports. They presently have a $45.00 target price on the stock. JMP Securities’ target price suggests a potential upside of 28.35% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Raymond James assumed coverage on Squarespace in a report on Wednesday, March 27th. They set an “outperform” rating and a $40.00 price objective for the company. Mizuho raised their price objective on Squarespace from $32.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. Citigroup upped their target price on shares of Squarespace from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. B. Riley boosted their price target on shares of Squarespace from $41.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Finally, Royal Bank of Canada increased their price objective 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.54.

Squarespace Stock Performance

Shares of Squarespace stock traded down $0.50 during trading on Tuesday, reaching $35.06. 141,779 shares of the company’s stock were exchanged, compared to its average volume of 692,897. The firm’s 50-day moving average price is $34.51 and its 200 day moving average price is $31.77. The company has a market cap of $4.79 billion, a P/E ratio of -701.60, a PEG ratio of 3.51 and a beta of 0.51. Squarespace has a 1-year low of $25.59 and a 1-year high of $37.89.

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

Insider Transactions at Squarespace

In other news, insider Paul Gubbay sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $36.81, for a total value of $92,025.00. Following the transaction, the insider now owns 43,686 shares in the company, valued at $1,608,081.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Anthony Casalena sold 26,800 shares of Squarespace stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $31.90, for a total value of $854,920.00. Following the sale, the chief executive officer now owns 3,495,096 shares in the company, valued at $111,493,562.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul Gubbay sold 2,500 shares of the business’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $36.81, for a total transaction of $92,025.00. Following the transaction, the insider now directly owns 43,686 shares in the company, valued at $1,608,081.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 274,677 shares of company stock worth $9,467,099. Company insiders own 47.14% of the company’s stock.

Institutional Investors Weigh In On Squarespace

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SQSP. Principal Financial Group Inc. increased its stake in shares of Squarespace by 25.6% during the first quarter. Principal Financial Group Inc. now owns 39,361 shares of the company’s stock valued at $1,434,000 after purchasing an additional 8,025 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Squarespace by 6.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 20,733 shares of the company’s stock worth $756,000 after acquiring an additional 1,340 shares in the last quarter. Diversified Trust Co grew its stake in shares of Squarespace by 13.1% in the first quarter. Diversified Trust Co now owns 9,561 shares of the company’s stock worth $348,000 after acquiring an additional 1,111 shares during the last quarter. Brooklyn FI LLC bought a new position in shares of Squarespace during the first quarter valued at $679,000. Finally, FCF Advisors LLC bought a new position in shares of Squarespace during the first quarter valued at $999,000. 92.30% of the stock is owned by hedge funds and other 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.