Equities Analysts Offer Predictions for Squarespace, Inc.'s FY2028 Earnings (NYSE:SQSP)

Squarespace, Inc. (NYSE:SQSP - Free Report) - Investment analysts at B. Riley increased their FY2028 earnings per share estimates for Squarespace in a report issued on Tuesday, April 23rd. B. Riley analyst N. Khan now forecasts that the company will earn $2.10 per share for the year, up from their previous estimate of $1.99. B. Riley currently has a "Buy" rating and a $43.00 target price on the stock. The consensus estimate for Squarespace's current full-year earnings is $0.50 per share.

Several other equities analysts have also issued reports on the company. Barclays upped their price target on Squarespace from $34.00 to $37.00 and gave the company an "equal weight" rating in a research note on Thursday, February 29th. Piper Sandler reissued an "overweight" rating and issued a $40.00 target price on shares of Squarespace in a research note on Thursday, February 29th. Citigroup increased their target price on Squarespace from $40.00 to $42.00 and gave the company a "buy" rating in a research note on Thursday, February 29th. Mizuho increased their target price on Squarespace from $32.00 to $34.00 and gave the company a "neutral" rating in a research note on Thursday, February 29th. Finally, JMP Securities increased their target price on Squarespace from $40.00 to $45.00 and gave the company an "outperform" rating in a research note on Monday, March 18th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.54.

Squarespace Trading Down 1.7 %

Shares of SQSP traded down $0.62 during trading hours on Wednesday, hitting $35.69. 611,405 shares of the stock traded hands, compared to its average volume of 709,258. Squarespace has a 1-year low of $25.59 and a 1-year high of $37.89. The firm has a market capitalization of $4.87 billion, a PE ratio of -713.80, a price-to-earnings-growth ratio of 3.49 and a beta of 0.51. The business has a fifty day moving average of $34.30 and a 200-day moving average of $31.64.

Squarespace (NYSE:SQSP - Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.12). The firm had revenue of $270.72 million during the quarter, compared to analyst estimates of $263.41 million. During the same quarter in the previous year, the business earned ($0.07) earnings per share. The firm's revenue for the quarter was up 18.3% compared to the same quarter last year.

Insiders Place Their Bets

In other Squarespace news, CEO Anthony Casalena sold 66,420 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $32.36, for a total value of $2,149,351.20. Following the completion of the sale, the chief executive officer now directly owns 3,521,896 shares in the company, valued at $113,968,554.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, General Counsel Courtenay O'connor sold 20,622 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $32.02, for a total transaction of $660,316.44. Following the completion of the transaction, the general counsel now directly owns 44,189 shares in the company, valued at $1,414,931.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Anthony Casalena sold 66,420 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $32.36, for a total value of $2,149,351.20. Following the transaction, the chief executive officer now owns 3,521,896 shares of the company's stock, valued at $113,968,554.56. The disclosure for this sale can be found here. Insiders sold 401,032 shares of company stock worth $13,576,924 over the last ninety days. 47.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew 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 valued at $756,000 after purchasing an additional 1,340 shares in the last quarter. Diversified Trust Co grew its stake in Squarespace by 13.1% in 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. Brooklyn FI LLC acquired a new stake in shares of Squarespace in the first quarter valued at approximately $679,000. FCF Advisors LLC acquired a new stake in shares of Squarespace in the first quarter valued at approximately $999,000. Finally, Renaissance Capital LLC lifted its position in shares of Squarespace by 15.8% in the first quarter. Renaissance Capital LLC now owns 37,042 shares of the company's stock valued at $1,350,000 after buying an additional 5,066 shares during the last quarter. 92.30% of the stock is currently owned by institutional investors.

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.