Squarespace’s (SQSP) Overweight Rating Reaffirmed at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Squarespace (NYSE:SQSP) in a research note issued to investors on Wednesday, Benzinga reports. Piper Sandler currently has a $45.00 price objective on the stock, up from their prior price objective of $40.00.

SQSP has been the topic of several other reports. Royal Bank of Canada lifted their target price on shares of 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 began coverage on shares of Squarespace in a research report on Wednesday, March 27th. They issued an outperform rating and a $40.00 price target on the stock. Mizuho boosted their price target on shares of Squarespace from $32.00 to $34.00 and gave the company a neutral rating in a research report on Thursday, February 29th. Barclays boosted their price target on shares of Squarespace from $34.00 to $37.00 and gave the company an equal weight rating in a research report on Thursday, February 29th. Finally, Citigroup boosted their price target on shares of Squarespace from $40.00 to $42.00 and gave the company a buy rating in a research report on Thursday, February 29th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $39.38.

Squarespace Stock Down 3.0 %

NYSE SQSP traded down $1.12 during midday trading on Wednesday, hitting $36.68. The company had a trading volume of 126,838 shares, compared to its average volume of 704,787. The stock has a market cap of $5.01 billion, a price-to-earnings ratio of -755.70, a P/E/G ratio of 3.48 and a beta of 0.52. The firm has a fifty day simple moving average of $34.94 and a two-hundred day simple moving average of $32.04. Squarespace has a fifty-two week low of $26.70 and a fifty-two week high of $38.10.

Squarespace (NYSE:SQSP) last issued 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 firm had revenue of $270.72 million for the quarter, compared to analyst estimates of $263.41 million. During the same quarter in the prior year, the business posted ($0.07) EPS. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. As a group, equities analysts predict that Squarespace will post 0.5 earnings per share for the current year.

Insider Buying and Selling

In other Squarespace news, insider Paul Gubbay sold 2,500 shares of the company’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 completion of the sale, the insider now owns 43,686 shares of the company’s stock, valued at $1,608,081.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Squarespace news, insider Paul Gubbay sold 2,500 shares of the company’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 completion of the sale, the insider now owns 43,686 shares of the company’s stock, valued at $1,608,081.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Anthony Casalena sold 67,230 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $31.83, for a total transaction of $2,139,930.90. Following the completion of the sale, the chief executive officer now directly owns 3,388,279 shares of the company’s stock, valued at approximately $107,848,920.57. The disclosure for this sale can be found here. Insiders sold a total of 315,306 shares of company stock valued at $11,010,784 over the last ninety days. Insiders own 47.14% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System boosted its holdings 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 valued at $524,000 after buying an additional 1,260 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Squarespace by 21.2% in the first quarter. ProShare Advisors LLC now owns 10,749 shares of the company’s stock valued at $392,000 after buying an additional 1,880 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of 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 buying an additional 12,180 shares during the period. Sei Investments Co. boosted its holdings in shares of Squarespace by 7.4% in the first quarter. Sei Investments Co. now owns 329,971 shares of the company’s stock valued at $12,024,000 after buying an additional 22,758 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings 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 during the period. Institutional investors and hedge funds 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.