Squarespace (NYSE:SQSP) Given “Market Outperform” Rating at JMP Securities

Squarespace (NYSE:SQSP)‘s stock had its “market outperform” rating reaffirmed by JMP Securities in a report issued on Tuesday, Benzinga reports. They currently have a $45.00 price objective on the stock. JMP Securities’ target price points to a potential upside of 28.35% from the company’s previous close.

Several other equities analysts have also recently commented on the stock. Piper Sandler reissued an “overweight” rating and set a $40.00 target price on shares of Squarespace in a research note on Thursday, February 29th. Citigroup boosted their target price on Squarespace from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Royal Bank of Canada lifted their price target on Squarespace from $32.00 to $35.00 and gave the company a “sector perform” rating in a research report on Thursday, February 29th. Raymond James started coverage on Squarespace in a research note on Wednesday, March 27th. They set an “outperform” rating and a $40.00 target price for the company. Finally, B. Riley raised their target price 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 equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $38.54.

Squarespace Stock Performance

Shares of SQSP traded down $0.50 during mid-day trading on Tuesday, reaching $35.06. 141,779 shares of the company’s stock traded hands, compared to its average volume of 692,897. The business’s 50-day moving average price is $34.51 and its 200-day moving average price is $31.77. The stock has a market capitalization of $4.79 billion, a P/E ratio of -701.60, a price-to-earnings-growth ratio of 3.51 and a beta of 0.51. Squarespace has a 12 month low of $25.59 and a 12 month high of $37.89.

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

Insider Activity at Squarespace

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 completion of the sale, the chief executive officer now owns 3,495,096 shares of the company’s stock, valued at approximately $111,493,562.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Anthony Casalena sold 26,800 shares of the firm’s 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 transaction, the chief executive officer now directly owns 3,495,096 shares in the company, valued at approximately $111,493,562.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Nathan Gooden sold 5,129 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $31.85, for a total transaction of $163,358.65. Following the sale, the chief financial officer now owns 66,503 shares of the company’s stock, valued at $2,118,120.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 274,677 shares of company stock valued at $9,467,099. 47.14% of the stock is owned by corporate insiders.

Institutional Trading of Squarespace

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its stake in shares of Squarespace by 25.6% in the first quarter. Principal Financial Group Inc. now owns 39,361 shares of the company’s stock valued at $1,434,000 after buying an additional 8,025 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of 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 during the last quarter. Diversified Trust Co lifted its position in shares of Squarespace by 13.1% during 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 in the last quarter. Brooklyn FI LLC bought a new stake in shares of Squarespace during the first quarter valued at approximately $679,000. Finally, FCF Advisors LLC acquired a new stake in shares of Squarespace in the first quarter valued at approximately $999,000. Institutional investors own 92.30% of the company’s stock.

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.