Brokers Set Expectations for Squarespace, Inc.’s Q3 2024 Earnings (NYSE:SQSP)

Squarespace, Inc. (NYSE:SQSP) – Analysts at B. Riley issued their Q3 2024 earnings estimates for Squarespace in a research note issued to investors on Monday, August 5th. B. Riley analyst N. Khan forecasts that the company will post earnings of $0.10 per share for the quarter. B. Riley currently has a “Neutral” rating and a $43.00 target price on the stock. The consensus estimate for Squarespace’s current full-year earnings is $0.44 per share. B. Riley also issued estimates for Squarespace’s Q4 2024 earnings at $0.12 EPS, FY2024 earnings at $0.26 EPS, FY2025 earnings at $0.68 EPS, FY2026 earnings at $1.11 EPS, FY2027 earnings at $1.58 EPS and FY2028 earnings at $2.06 EPS.

SQSP has been the topic of several other research reports. Barclays upped their price target on Squarespace from $40.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 14th. The Goldman Sachs Group increased their price objective on Squarespace from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, May 13th. JMP Securities restated a “market outperform” rating and issued a $45.00 price target on shares of Squarespace in a research report on Tuesday, April 30th. Baird R W cut Squarespace from a “strong-buy” rating to a “hold” rating in a report on Monday, May 13th. Finally, Royal Bank of Canada lifted their target price on Squarespace from $35.00 to $38.00 and gave the company a “sector perform” rating in a report on Wednesday, May 8th. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Squarespace presently has an average rating of “Hold” and a consensus target price of $41.75.

Squarespace Stock Performance

SQSP remained flat at $44.15 on Thursday. 519,057 shares of the company’s stock traded hands, compared to its average volume of 955,215. Squarespace has a 52 week low of $26.70 and a 52 week high of $44.56. The company has a market capitalization of $6.07 billion, a PE ratio of -883.00, a price-to-earnings-growth ratio of 5.06 and a beta of 0.62. The firm’s fifty day simple moving average is $43.82 and its 200-day simple moving average is $38.44.

Squarespace (NYSE:SQSP) last released its quarterly earnings data on Friday, August 2nd. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The firm had revenue of $296.80 million for the quarter, compared to analysts’ expectations of $293.12 million. Squarespace’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.03 EPS.

Institutional Investors Weigh In On Squarespace

A number of large investors have recently modified their holdings of the business. CWM LLC lifted its position in Squarespace by 185.6% in the 2nd quarter. CWM LLC now owns 2,016 shares of the company’s stock valued at $88,000 after acquiring an additional 1,310 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Squarespace by 3,201.0% in the 4th quarter. International Assets Investment Management LLC now owns 3,301 shares of the company’s stock worth $100,000 after acquiring an additional 3,201 shares in the last quarter. Quest Partners LLC grew its position in Squarespace by 1,828.9% during the 2nd quarter. Quest Partners LLC now owns 2,739 shares of the company’s stock valued at $120,000 after purchasing an additional 2,597 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in Squarespace by 8.4% in the 1st quarter. Ameritas Investment Partners Inc. now owns 5,666 shares of the company’s stock valued at $206,000 after acquiring an additional 437 shares in the last quarter. Finally, Handelsbanken Fonder AB bought a new position in Squarespace during the fourth quarter valued at approximately $244,000. Institutional investors and hedge funds own 92.30% of the company’s stock.

Insider Transactions at Squarespace

In other Squarespace news, insider Paul Gubbay sold 2,500 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $43.21, for a total transaction of $108,025.00. Following the sale, the insider now directly owns 41,186 shares of the company’s stock, valued at $1,779,647.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Paul Gubbay sold 2,500 shares of Squarespace stock in a transaction on Monday, May 13th. The stock was sold at an average price of $43.21, for a total transaction of $108,025.00. Following the completion of the sale, the insider now directly owns 41,186 shares of the company’s stock, valued at $1,779,647.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Anthony Casalena sold 59,882 shares of Squarespace stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $43.78, for a total transaction of $2,621,633.96. Following the completion of the transaction, the chief executive officer now directly owns 1,975,618 shares in the company, valued at approximately $86,492,556.04. The disclosure for this sale can be found here. In the last three months, insiders sold 388,879 shares of company stock valued at $16,917,678. Company insiders own 44.96% of the company’s stock.

Squarespace Company Profile

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.