Squarespace - SQSP Stock Forecast, Price & News

Squarespace, Inc. operates platform for businesses and independent creators to build online presence, grow their brands, and manage their businesses across the internet. Its suite of integrated products enables users to manage their projects and businesses through websites, domains, e-commerce, marketing tools, and scheduling, as well as tools for managing a social media presence. It serves small and medium-sized businesses, and independent creators, such as restaurants, photographers, wedding planners, artists, musicians, and bloggers. Squarespace, Inc. was founded in 2003 and is headquartered in New York, New York.

Squarespace Price Performance

Shares of SQSP traded down $1.97 during mid-day trading on Tuesday, hitting $21.08. 24,284 shares of the company traded hands, compared to its average volume of 555,255. Squarespace has a one year low of $14.43 and a one year high of $50.35. The business has a 50-day moving average of $21.36 and a 200 day moving average of $23.99.

Squarespace (NYSE:SQSP - Get Rating) last announced its quarterly earnings data on Monday, July 25th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.36. The business had revenue of $212.70 million during the quarter, compared to analyst estimates of $212.01 million. During the same quarter in the prior year, the company earned ($3.22) earnings per share. The company's quarterly revenue was up 8.5% on a year-over-year basis. Sell-side analysts anticipate that Squarespace will post -0.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SQSP. Piper Sandler lowered their target price on shares of Squarespace from $26.00 to $21.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 26th. Wedbush raised shares of Squarespace from a "neutral" rating to an "outperform" rating in a research note on Friday, May 13th. Citigroup began coverage on shares of Squarespace in a report on Tuesday, April 19th. They issued a "neutral" rating and a $25.00 target price on the stock. Credit Suisse Group assumed coverage on Squarespace in a research note on Tuesday, May 31st. They set a "neutral" rating and a $25.00 price objective for the company. Finally, Truist Financial dropped their price target on Squarespace to $31.00 in a research report on Tuesday, July 26th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $28.77.

Insider Activity

In other news, major shareholder Ventures Growth I. Parall Index sold 29,537 shares of the business's stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $20.00, for a total value of $590,740.00. Following the completion of the transaction, the insider now directly owns 551,888 shares in the company, valued at approximately $11,037,760. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Ventures Growth I. Parall Index sold 34,696 shares of Squarespace stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $20.02, for a total transaction of $694,613.92. Following the sale, the insider now directly owns 516,992 shares of the company's stock, valued at approximately $10,350,179.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ventures Growth I. Parall Index sold 29,537 shares of Squarespace stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $20.00, for a total transaction of $590,740.00. Following the sale, the insider now directly owns 551,888 shares in the company, valued at $11,037,760. The disclosure for this sale can be found here. In the last ninety days, insiders sold 548,486 shares of company stock worth $11,816,796. 45.51% of the stock is currently owned by corporate insiders.