Squarespace (NYSE:SQSP) Price Target Increased to $40.00 by Analysts at Barclays

Squarespace (NYSE:SQSP) had its price objective hoisted by equities researchers at Barclays from $37.00 to $40.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s target price would suggest a potential upside of 7.10% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on SQSP. Robert W. Baird raised shares of Squarespace from a “neutral” rating to an “outperform” rating and raised their target price for the company from $30.00 to $39.00 in a research note on Monday, March 4th. Piper Sandler reiterated an “overweight” rating and set a $45.00 price target (up from $40.00) on shares of Squarespace in a report on Wednesday. Royal Bank of Canada boosted their target price on Squarespace from $35.00 to $38.00 and gave the company a “sector perform” rating in a research note on Wednesday. Mizuho lifted their price target on shares of Squarespace from $32.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. Finally, Raymond James started coverage on shares of Squarespace in a research note on Wednesday, March 27th. They issued an “outperform” rating and a $40.00 price target for the company. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Squarespace currently has a consensus rating of “Moderate Buy” and an average price target of $39.38.

Squarespace Price Performance

NYSE SQSP traded up $0.47 during trading hours on Wednesday, reaching $37.35. The company’s stock had a trading volume of 435,830 shares, compared to its average volume of 706,791. Squarespace has a 52 week low of $26.70 and a 52 week high of $37.91. The firm has a fifty day simple moving average of $34.85 and a 200-day simple moving average of $32.00. The stock has a market cap of $5.10 billion, a P/E ratio of -748.80, a P/E/G ratio of 3.48 and a beta of 0.52.

Squarespace (NYSE:SQSP) last announced its earnings results on Wednesday, February 28th. The company reported $0.04 EPS 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 the consensus estimate of $263.41 million. Squarespace’s revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.07) EPS. On average, research analysts expect that Squarespace will post 0.5 earnings per share for the current year.

Insider Buying and Selling

In other Squarespace news, CEO Anthony Casalena sold 27,240 shares of Squarespace stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $35.62, for a total transaction of $970,288.80. Following the transaction, the chief executive officer now owns 2,773,318 shares of the company’s stock, valued at $98,785,587.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Squarespace news, CFO Nathan Gooden sold 5,129 shares of Squarespace stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $31.85, for a total value of $163,358.65. Following the sale, the chief financial officer now directly owns 66,503 shares in the company, valued at approximately $2,118,120.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Anthony Casalena sold 27,240 shares of Squarespace stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $35.62, for a total value of $970,288.80. Following the completion of the sale, the chief executive officer now directly owns 2,773,318 shares in the company, valued at $98,785,587.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 342,106 shares of company stock valued at $11,865,704. 47.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Squarespace

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SQSP. Amalgamated Bank raised its holdings in shares of Squarespace by 12.4% in the third quarter. Amalgamated Bank now owns 5,106 shares of the company’s stock valued at $148,000 after acquiring an additional 565 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Squarespace by 6.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,658 shares of the company’s stock worth $319,000 after purchasing an additional 572 shares during the period. Diversified Trust Co boosted its stake in shares of Squarespace by 13.1% during the first quarter. Diversified Trust Co now owns 9,561 shares of the company’s stock valued at $348,000 after purchasing an additional 1,111 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in 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 buying an additional 1,340 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in Squarespace by 5.8% during the fourth quarter. Teacher Retirement System of Texas now owns 24,419 shares of the company’s stock worth $806,000 after buying an additional 1,349 shares during the period. 92.30% of the stock is currently owned by hedge funds and other institutional investors.

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.