Shares of Squarespace, Inc. (NYSE:SQSP – Get Rating) have been given an average rating of "Hold" by the fourteen ratings firms that are covering the stock, Marketbeat reports. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $26.45.
A number of research analysts recently issued reports on SQSP shares. Piper Sandler reduced their price target on Squarespace from $26.00 to $21.00 and set a "neutral" rating on the stock in a report on Tuesday, July 26th. KeyCorp reduced their price target on Squarespace from $30.00 to $25.00 and set an "overweight" rating on the stock in a report on Tuesday, July 26th. Barclays reduced their price target on Squarespace from $25.00 to $24.00 and set an "equal weight" rating on the stock in a report on Tuesday, June 21st. JMP Securities downgraded Squarespace from an "outperform" rating to a "market perform" rating in a report on Thursday, July 14th. Finally, Credit Suisse Group started coverage on Squarespace in a report on Tuesday, May 31st. They set a "neutral" rating and a $25.00 price target on the stock.
Get Squarespace alerts:Squarespace Price Performance
NYSE SQSP opened at $22.81 on Wednesday. Squarespace has a 1-year low of $14.43 and a 1-year high of $48.89. The stock has a 50-day moving average of $21.77 and a 200-day moving average of $22.48.
Squarespace (NYSE:SQSP – Get Rating) last released its earnings results on Monday, July 25th. The company reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.36. The company had revenue of $212.70 million during the quarter, compared to the consensus estimate of $212.01 million. During the same period last year, the firm posted ($3.22) EPS. The company's revenue was up 8.5% on a year-over-year basis. As a group, equities research analysts forecast that Squarespace will post -0.09 earnings per share for the current year.Insider Buying and Selling
In related news, major shareholder Ventures Growth I. Parall Index sold 34,696 shares of the company's stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $20.02, for a total value of $694,613.92. Following the sale, the insider now owns 516,992 shares in the company, valued at approximately $10,350,179.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Ventures Growth I. Parall Index sold 34,696 shares of the company's stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $20.02, for a total value of $694,613.92. Following the sale, the insider now owns 516,992 shares in the company, valued at approximately $10,350,179.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Ventures Growth I. Parall Index sold 1,595 shares of the company's stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $23.00, for a total value of $36,685.00. Following the completion of the sale, the insider now owns 515,397 shares in the company, valued at approximately $11,854,131. The disclosure for this sale can be found here. Insiders have sold 613,110 shares of company stock worth $13,238,858 in the last 90 days. Insiders own 45.51% of the company's stock.
Hedge Funds Weigh In On Squarespace
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SQSP. Vanguard Group Inc. lifted its position in Squarespace by 56.3% in the 1st quarter. Vanguard Group Inc. now owns 3,645,279 shares of the company's stock valued at $93,392,000 after acquiring an additional 1,313,755 shares in the last quarter. Riverbridge Partners LLC lifted its position in Squarespace by 97.8% in the 1st quarter. Riverbridge Partners LLC now owns 2,324,814 shares of the company's stock valued at $59,562,000 after acquiring an additional 1,149,501 shares in the last quarter. First Trust Advisors LP bought a new position in Squarespace in the 1st quarter valued at approximately $27,254,000. State Street Corp lifted its position in Squarespace by 390.4% in the 2nd quarter. State Street Corp now owns 579,029 shares of the company's stock valued at $12,113,000 after acquiring an additional 460,967 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Squarespace by 953.4% in the 1st quarter. Bank of New York Mellon Corp now owns 441,633 shares of the company's stock valued at $11,314,000 after acquiring an additional 399,710 shares in the last quarter. 41.20% of the stock is owned by institutional investors.
About Squarespace
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Squarespace, Inc operates platform for businesses and independent creators to build online presence, grow their brands, and manage their businesses across the internet. Its suite of integrated products enables users to manage their projects and businesses through websites, domains, e-commerce, marketing tools, and scheduling, as well as tools for managing a social media presence.
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