Squarespace (NYSE:SQSP) Price Target Raised to $47.00 at Barclays

Squarespace (NYSE:SQSP) had its price objective boosted by research analysts at Barclays from $44.00 to $47.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential upside of 1.67% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on SQSP. Mizuho cut shares of Squarespace from an “outperform” rating to a “neutral” rating and set a $44.00 price objective for the company. in a research note on Monday, August 5th. UBS Group raised their price objective on Squarespace from $44.00 to $46.50 and gave the company a “neutral” rating in a research note on Tuesday. Raymond James reiterated a “market perform” rating on shares of Squarespace in a report on Monday, May 13th. Baird R W cut Squarespace from a “strong-buy” rating to a “hold” rating in a report on Monday, May 13th. Finally, B. Riley cut Squarespace from a “buy” rating to a “neutral” rating and set a $43.00 price target on the stock. in a research note on Tuesday, June 11th. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $43.14.

Squarespace Price Performance

NYSE SQSP traded up $0.03 during trading hours on Tuesday, reaching $46.23. 141,915 shares of the stock traded hands, compared to its average volume of 949,740. The stock has a 50 day simple moving average of $44.40 and a two-hundred day simple moving average of $40.47. Squarespace has a 1 year low of $26.70 and a 1 year high of $46.26. The company has a market cap of $6.40 billion, a price-to-earnings ratio of -924.60, a price-to-earnings-growth ratio of 8.11 and a beta of 0.62.

Squarespace (NYSE:SQSP) last announced its quarterly earnings data on Friday, August 2nd. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The company had revenue of $296.80 million during the quarter, compared to the consensus estimate of $293.12 million. The company’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.03 earnings per share. On average, sell-side analysts forecast that Squarespace will post 0.28 EPS for the current fiscal year.

Insider Transactions at Squarespace

In related news, CEO Anthony Casalena sold 38,466 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $45.26, for a total transaction of $1,740,971.16. Following the transaction, the chief executive officer now owns 1,527,820 shares in the company, valued at $69,149,133.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Paul Gubbay sold 2,500 shares of Squarespace stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $43.82, for a total transaction of $109,550.00. Following the completion of the transaction, the insider now directly owns 42,486 shares in the company, valued at $1,861,736.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anthony Casalena sold 38,466 shares of Squarespace stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $45.26, for a total value of $1,740,971.16. Following the transaction, the chief executive officer now owns 1,527,820 shares of the company’s stock, valued at approximately $69,149,133.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 234,519 shares of company stock valued at $10,336,832. Company insiders own 44.96% of the company’s stock.

Hedge Funds Weigh In On Squarespace

A number of hedge funds have recently bought and sold shares of SQSP. Nisa Investment Advisors LLC raised its holdings in shares of Squarespace by 3.8% during the second quarter. Nisa Investment Advisors LLC now owns 9,522 shares of the company’s stock valued at $415,000 after purchasing an additional 352 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in Squarespace by 8.4% during the 1st quarter. Ameritas Investment Partners Inc. now owns 5,666 shares of the company’s stock worth $206,000 after acquiring an additional 437 shares during the period. Ellsworth Advisors LLC lifted its holdings in Squarespace by 5.3% during the second quarter. Ellsworth Advisors LLC now owns 14,370 shares of the company’s stock valued at $627,000 after purchasing an additional 719 shares in the last quarter. Diversified Trust Co boosted its position 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 purchasing an additional 1,111 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of Squarespace by 9.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 14,380 shares of the company’s stock worth $524,000 after purchasing an additional 1,260 shares during the period. 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.