Squarespace (NYSE:SQSP) Issues Quarterly Earnings Results

Squarespace (NYSE:SQSP) announced its quarterly earnings data on Friday. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.07), Briefing.com reports. The business had revenue of $296.80 million during the quarter, compared to analyst estimates of $293.12 million. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.03 earnings per share.

Squarespace Price Performance

Shares of SQSP stock traded down $0.02 during trading hours on Friday, reaching $44.05. 829,902 shares of the company traded hands, compared to its average volume of 866,101. Squarespace has a 12-month low of $26.70 and a 12-month high of $44.29. The company has a market cap of $6.06 billion, a P/E ratio of -881.00, a P/E/G ratio of 5.06 and a beta of 0.62. The firm has a 50-day moving average price of $43.77 and a 200 day moving average price of $38.00.

Insider Activity

In related news, insider Paul Gubbay sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $43.21, for a total value of $108,025.00. Following the transaction, the insider now directly owns 41,186 shares of the company’s stock, valued at approximately $1,779,647.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Anthony Casalena sold 150,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $43.62, for a total transaction of $6,543,000.00. Following the sale, the chief executive officer now directly owns 2,448,389 shares of the company’s stock, valued at approximately $106,798,728.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Gubbay sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $43.21, for a total value of $108,025.00. Following the sale, the insider now directly owns 41,186 shares in the company, valued at $1,779,647.06. The disclosure for this sale can be found here. Insiders have sold a total of 455,862 shares of company stock valued at $19,387,341 in the last ninety days. Corporate insiders own 44.96% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SQSP. William Blair restated an “outperform” rating on shares of Squarespace in a report on Wednesday, May 8th. UBS Group restated a “neutral” rating and set a $44.00 price target (up from $43.00) on shares of Squarespace in a report on Tuesday, May 14th. Robert W. Baird restated a “neutral” rating and set a $44.00 price target (down from $45.00) on shares of Squarespace in a report on Monday, May 13th. The Goldman Sachs Group raised their price target on Squarespace from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, May 13th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $45.00 price objective on shares of Squarespace in a report on Tuesday, April 30th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Squarespace presently has a consensus rating of “Hold” and an average price target of $42.25.

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.