UBS Group Boosts Squarespace (NYSE:SQSP) Price Target to $46.50

Squarespace (NYSE:SQSP) had its price target lifted by UBS Group from $44.00 to $46.50 in a research note published on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities research analysts also recently weighed in on the stock. Mizuho downgraded shares of Squarespace from an outperform rating to a neutral rating and set a $44.00 price target for the company. in a research report on Monday, August 5th. Baird R W cut shares of Squarespace from a strong-buy rating to a hold rating in a research report on Monday, May 13th. Robert W. Baird reiterated a neutral rating and set a $44.00 price target (down previously from $45.00) on shares of Squarespace in a research report on Monday, May 13th. Barclays upped their target price on Squarespace from $40.00 to $44.00 and gave the stock an equal weight rating in a research note on Tuesday, May 14th. Finally, B. Riley lowered Squarespace from a buy rating to a neutral rating and set a $43.00 price target on the stock. in a research note on Tuesday, June 11th. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Squarespace has a consensus rating of Hold and a consensus target price of $43.14.

Squarespace Stock Up 0.1 %

Shares of SQSP stock opened at $46.30 on Tuesday. Squarespace has a 12-month low of $26.70 and a 12-month high of $46.37. The company has a market capitalization of $6.41 billion, a PE ratio of -925.90, a price-to-earnings-growth ratio of 8.11 and a beta of 0.62. The firm has a 50 day moving average price of $44.56 and a two-hundred day moving average price of $40.64.

Squarespace (NYSE:SQSP) last issued its quarterly earnings data on Friday, August 2nd. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The business had revenue of $296.80 million during the quarter, compared to analysts’ expectations of $293.12 million. During the same quarter last year, the company posted $0.03 earnings per share. Squarespace’s quarterly revenue was up 19.9% on a year-over-year basis. As a group, research analysts expect that Squarespace will post 0.28 EPS for the current year.

Insider Activity

In related news, CEO Anthony Casalena sold 60,012 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $43.52, for a total transaction of $2,611,722.24. Following the sale, the chief executive officer now owns 2,092,872 shares in the company, valued at approximately $91,081,789.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Paul Gubbay sold 2,500 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $44.12, for a total transaction of $110,300.00. Following the sale, the insider now owns 37,486 shares in the company, valued at approximately $1,653,882.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Anthony Casalena sold 60,012 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $43.52, for a total value of $2,611,722.24. Following the sale, the chief executive officer now owns 2,092,872 shares in the company, valued at approximately $91,081,789.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 232,019 shares of company stock worth $10,227,282. Insiders own 44.96% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SQSP. Glazer Capital LLC acquired a new position in Squarespace during the 2nd quarter worth about $96,206,000. Wellington Management Group LLP lifted its holdings in Squarespace by 18.1% during the 4th quarter. Wellington Management Group LLP now owns 8,284,051 shares of the company’s stock worth $273,457,000 after buying an additional 1,268,698 shares during the period. Kodai Capital Management LP acquired a new position in Squarespace during the 1st quarter worth about $36,938,000. Water Island Capital LLC acquired a new position in Squarespace during the 2nd quarter worth about $37,107,000. Finally, Vanguard Group Inc. lifted its holdings in Squarespace by 8.2% during the 4th quarter. Vanguard Group Inc. now owns 6,345,007 shares of the company’s stock worth $209,449,000 after buying an additional 479,712 shares during the period. 92.30% of the stock is owned by institutional investors and hedge funds.

About Squarespace

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.