Barclays Increases Squarespace (NYSE:SQSP) Price Target to $40.00

Squarespace (NYSE:SQSP - Get Free Report) had its price target increased by equities researchers at Barclays from $37.00 to $40.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an "equal weight" rating on the stock. Barclays's target price would indicate a potential upside of 5.86% from the company's previous close.

A number of other research firms also recently weighed in on SQSP. B. Riley increased their price target on shares of Squarespace from $41.00 to $43.00 and gave the stock a "buy" rating in a research note on Thursday, February 29th. Robert W. Baird upgraded Squarespace from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $30.00 to $39.00 in a report on Monday, March 4th. Citigroup upped their price target on Squarespace from $40.00 to $42.00 and gave the stock a "buy" rating in a research note on Thursday, February 29th. Mizuho lifted their price objective 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 reissued a "market outperform" rating and set a $45.00 target price on shares of Squarespace in a research report on Tuesday, April 30th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $39.38.

Squarespace Stock Up 2.5 %

Shares of SQSP stock traded up $0.90 during mid-day trading on Wednesday, hitting $37.79. 819,131 shares of the company's stock were exchanged, compared to its average volume of 711,577. The stock has a market cap of $5.16 billion, a price-to-earnings ratio of -748.80, a PEG ratio of 3.48 and a beta of 0.52. Squarespace has a fifty-two week low of $26.70 and a fifty-two week high of $37.91. The stock has a 50-day simple moving average of $34.85 and a two-hundred day simple moving average of $32.00.

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 analysts' consensus estimates of $0.16 by ($0.12). The business had revenue of $270.72 million during the quarter, compared to analysts' expectations of $263.41 million. During the same quarter last year, the firm posted ($0.07) earnings per share. The company's revenue was up 18.3% compared to the same quarter last year. As a group, analysts anticipate that Squarespace will post 0.5 earnings per share for the current fiscal year.

Insider Activity at Squarespace

In other news, insider Paul Gubbay sold 2,500 shares of Squarespace stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $36.81, for a total transaction of $92,025.00. Following the sale, the insider now directly owns 43,686 shares of the company's stock, valued at $1,608,081.66. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Squarespace news, General Counsel Courtenay O'connor sold 20,622 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $32.02, for a total transaction of $660,316.44. Following the transaction, the general counsel now directly owns 44,189 shares in the company, valued at approximately $1,414,931.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Gubbay sold 2,500 shares of the business's stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $36.81, for a total transaction of $92,025.00. Following the completion of the sale, the insider now directly owns 43,686 shares of the company's stock, valued at approximately $1,608,081.66. The disclosure for this sale can be found here. In the last three months, insiders sold 342,106 shares of company stock valued at $11,865,704. Corporate insiders own 47.14% of the company's stock.

Hedge Funds Weigh In On Squarespace

A number of hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in Squarespace by 18.1% during the fourth quarter. Wellington Management Group LLP now owns 8,284,051 shares of the company's stock valued at $273,457,000 after purchasing an additional 1,268,698 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Squarespace by 8.2% during the 4th quarter. Vanguard Group Inc. now owns 6,345,007 shares of the company's stock valued at $209,449,000 after buying an additional 479,712 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Squarespace by 2.7% during the 3rd quarter. Acadian Asset Management LLC now owns 1,191,871 shares of the company's stock valued at $34,508,000 after buying an additional 31,448 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Squarespace by 17.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 912,135 shares of the company's stock worth $26,425,000 after acquiring an additional 134,598 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Squarespace by 32.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 524,091 shares of the company's stock worth $15,183,000 after acquiring an additional 127,362 shares during the last quarter. 92.30% of the stock is currently 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.