Squarespace (NYSE:SQSP) Announces Earnings Results

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

Squarespace Stock Performance

SQSP stock traded down $0.02 on Friday, reaching $44.05. The company had a trading volume of 829,902 shares, compared to its average volume of 866,101. Squarespace has a 1 year low of $26.70 and a 1 year high of $44.29. The company’s fifty day moving average is $43.77 and its 200 day moving average is $38.00. The company has a market cap of $6.06 billion, a P/E ratio of -881.00, a PEG ratio of 5.06 and a beta of 0.62.

Insider Activity at Squarespace

In other Squarespace news, CEO Anthony Casalena sold 59,882 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $43.78, for a total transaction of $2,621,633.96. Following the transaction, the chief executive officer now owns 1,975,618 shares of the company’s stock, valued at approximately $86,492,556.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Anthony Casalena sold 59,882 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $43.78, for a total value of $2,621,633.96. Following the transaction, the chief executive officer now directly owns 1,975,618 shares of the company’s stock, valued at approximately $86,492,556.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul Gubbay sold 2,500 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $43.72, for a total value of $109,300.00. Following the completion of the transaction, the insider now directly owns 39,986 shares in the company, valued at $1,748,187.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 455,862 shares of company stock valued at $19,387,341. 44.96% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on SQSP shares. Robert W. Baird reissued a “neutral” rating and issued a $44.00 target price (down from $45.00) on shares of Squarespace in a report on Monday, May 13th. The Goldman Sachs Group boosted their target price on Squarespace from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, May 13th. UBS Group reaffirmed a “neutral” rating and set a $44.00 price objective (up from $43.00) on shares of Squarespace in a research note on Tuesday, May 14th. Mizuho raised Squarespace from a “neutral” rating to a “buy” rating and upped their price objective for the company from $34.00 to $50.00 in a research note on Friday, May 10th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $45.00 price objective on shares of Squarespace in a research note on Tuesday, April 30th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.