Squarespace, Inc. to Post Q3 2024 Earnings of $0.10 Per Share, B. Riley Forecasts (NYSE:SQSP)

Squarespace, Inc. (NYSE:SQSP) – Research analysts at B. Riley issued their Q3 2024 earnings estimates for Squarespace in a research report issued on Monday, August 5th. B. Riley analyst N. Khan expects that the company will post earnings per share of $0.10 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.

Several other research analysts have also issued reports on the stock. UBS Group reissued a “neutral” rating and issued a $44.00 price target (up previously from $43.00) on shares of Squarespace in a research report on Tuesday, May 14th. Piper Sandler cut Squarespace from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 13th. JMP Securities restated a “market outperform” rating and issued a $45.00 target price on shares of Squarespace in a research note on Tuesday, April 30th. Robert W. Baird reiterated a “neutral” rating and set a $44.00 target price (down previously from $45.00) on shares of Squarespace in a research report on Monday, May 13th. Finally, Raymond James restated a “market perform” rating on shares of Squarespace in a research report on Monday, May 13th. Eleven equities research 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 currently has a consensus rating of “Hold” and an average target price of $41.75.

Squarespace Stock Performance

Squarespace stock 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 12-month low of $26.70 and a 12-month high of $44.56. The stock has a market capitalization of $6.07 billion, a price-to-earnings ratio of -883.00, a P/E/G ratio of 5.06 and a beta of 0.62. The firm has a 50 day simple moving average of $43.82 and a two-hundred day simple moving average of $38.44.

Squarespace (NYSE:SQSP) last released its earnings results 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 company had revenue of $296.80 million during the quarter, compared to analyst estimates of $293.12 million. During the same quarter in the previous year, the business posted $0.03 earnings per share. The firm’s quarterly revenue was up 19.9% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its position in shares of Squarespace by 18.1% in the fourth quarter. Wellington Management Group LLP now owns 8,284,051 shares of the company’s stock valued at $273,457,000 after buying an additional 1,268,698 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Squarespace by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 6,699,064 shares of the company’s stock worth $244,114,000 after buying an additional 354,057 shares during the period. Renaissance Technologies LLC grew its stake in Squarespace by 19.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,769,994 shares of the company’s stock valued at $77,225,000 after buying an additional 292,600 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Squarespace by 24.0% in the 1st quarter. Acadian Asset Management LLC now owns 1,637,361 shares of the company’s stock valued at $59,643,000 after acquiring an additional 317,416 shares during the period. Finally, Kodai Capital Management LP acquired a new stake in Squarespace during the first quarter worth approximately $36,938,000. 92.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Squarespace

In related news, CEO Anthony Casalena sold 150,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $43.62, for a total value of $6,543,000.00. Following the completion of the sale, the chief executive officer now owns 2,448,389 shares in the company, valued at $106,798,728.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Anthony Casalena sold 150,000 shares of Squarespace stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $43.62, for a total transaction of $6,543,000.00. Following the transaction, the chief executive officer now directly owns 2,448,389 shares of the company’s stock, valued at $106,798,728.18. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Paul Gubbay sold 2,500 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $43.72, for a total transaction of $109,300.00. Following the completion of the sale, the insider now owns 39,986 shares of the company’s stock, valued at approximately $1,748,187.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 388,879 shares of company stock valued at $16,917,678. 44.96% of the stock is currently owned by insiders.

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.