Squarespace (NYSE:SQSP) Issues Earnings Results, Misses Expectations By $0.07 EPS

Squarespace (NYSE:SQSP) released its quarterly earnings data on Friday. The company reported $0.04 earnings per share (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 for the quarter, compared to the consensus estimate of $293.12 million. Squarespace’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period last year, the business posted $0.03 earnings per share.

Squarespace Stock Down 0.0 %

NYSE:SQSP opened at $44.05 on Friday. The stock has a market capitalization of $6.06 billion, a price-to-earnings ratio of -881.00, a PEG ratio of 5.06 and a beta of 0.62. Squarespace has a 52 week low of $26.70 and a 52 week high of $44.29. The firm has a 50 day moving average of $43.77 and a 200 day moving average of $38.05.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Piper Sandler lowered Squarespace from a “strong-buy” rating to a “hold” rating in a report on Monday, May 13th. Barclays upped their target price on Squarespace from $40.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 14th. 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 research note on Monday, May 13th. William Blair reaffirmed an “outperform” rating on shares of Squarespace in a research note on Wednesday, May 8th. Finally, Mizuho raised shares of Squarespace from a “neutral” rating to a “buy” rating and raised their target price for the company from $34.00 to $50.00 in a research report on Friday, May 10th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Squarespace presently has a consensus rating of “Hold” and a consensus target price of $42.25.

Insiders Place Their Bets

In other news, CEO Anthony Casalena sold 59,882 shares of the firm’s 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 completion of the sale, the chief executive officer now owns 1,975,618 shares of the company’s stock, valued at approximately $86,492,556.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Anthony Casalena sold 59,882 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 1,975,618 shares in the company, valued at $86,492,556.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Paul Gubbay sold 2,500 shares of Squarespace stock in a transaction that occurred 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 owns 41,186 shares of the company’s stock, valued at $1,779,647.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 455,862 shares of company stock valued at $19,387,341. 44.96% of the stock is currently owned by insiders.

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.