Squarespace (NYSE:SQSP) PT Raised to $40.00 at Barclays

Squarespace (NYSE:SQSP) had its price target increased by Barclays from $37.00 to $40.00 in a report published on Wednesday, Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other research firms also recently weighed in on SQSP. Royal Bank of Canada lifted their target price on shares of Squarespace from $35.00 to $38.00 and gave the stock a sector perform rating in a research note on Wednesday. Mizuho lifted their price objective on shares of Squarespace from $32.00 to $34.00 and gave the company a neutral rating in a research note on Thursday, February 29th. Raymond James initiated coverage on Squarespace in a research report on Wednesday, March 27th. They set an outperform rating and a $40.00 target price on the stock. JMP Securities reiterated a market outperform rating and issued a $45.00 price target on shares of Squarespace in a research report on Tuesday, April 30th. Finally, Citigroup increased their price objective on Squarespace from $40.00 to $42.00 and gave the stock a buy rating in a report on Thursday, February 29th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $39.38.

Squarespace Stock Performance

NYSE SQSP traded down $0.98 on Wednesday, hitting $36.82. 872,324 shares of the stock traded hands, compared to its average volume of 713,362. The business’s fifty day moving average is $34.94 and its two-hundred day moving average is $32.04. Squarespace has a 12 month low of $26.70 and a 12 month high of $38.10. The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of -755.70, a PEG ratio of 3.48 and a beta of 0.52.

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

Insider Activity

In other news, CEO Anthony Casalena sold 67,230 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $31.83, for a total value of $2,139,930.90. Following the completion of the transaction, the chief executive officer now directly owns 3,388,279 shares in the company, valued at approximately $107,848,920.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Anthony Casalena sold 67,230 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $31.83, for a total value of $2,139,930.90. Following the completion of the sale, the chief executive officer now owns 3,388,279 shares of the company’s stock, valued at approximately $107,848,920.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan D. Klein sold 700 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $37.50, for a total transaction of $26,250.00. Following the transaction, the director now directly owns 651,380 shares in the company, valued at approximately $24,426,750. The disclosure for this sale can be found here. In the last quarter, insiders have sold 315,306 shares of company stock worth $11,010,784. 47.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Squarespace

A number of hedge funds and other institutional investors have recently modified their holdings of SQSP. State Board of Administration of Florida Retirement System raised its holdings in Squarespace by 9.6% during the 1st 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 last quarter. ProShare Advisors LLC raised its stake in shares of Squarespace by 21.2% during the first quarter. ProShare Advisors LLC now owns 10,749 shares of the company’s stock valued at $392,000 after acquiring an additional 1,880 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Squarespace by 5.0% during the first quarter. Russell Investments Group Ltd. now owns 253,812 shares of the company’s stock worth $9,263,000 after purchasing an additional 12,180 shares during the period. Sei Investments Co. grew its stake in shares of Squarespace by 7.4% in the first quarter. Sei Investments Co. now owns 329,971 shares of the company’s stock worth $12,024,000 after purchasing an additional 22,758 shares during the last quarter. Finally, Principal Financial Group Inc. grew 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 worth $1,434,000 after purchasing an additional 8,025 shares during the last quarter. 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.