Raymond James analyst Aaron Kessler maintained a Buy rating on Squarespace (SQSP – Research Report) today and set a price target of $26.00. The company’s shares closed last Monday at $19.32, close to its 52-week low of $14.43.
According to TipRanks.com, Kessler is a 5-star analyst with an average return of 16.0% and a 60.4% success rate. Kessler covers the Technology sector, focusing on stocks such as Integral Ad Science, Alphabet Class C, and Meta Platforms.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Squarespace with a $25.80 average price target, implying a 39.3% upside from current levels. In a report released today, KeyBanc also maintained a Buy rating on the stock with a $25.00 price target.
Based on Squarespace’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $208 million and GAAP net loss of $92.86 million. In comparison, last year the company earned revenue of $180 million and had a GAAP net loss of $1.15 million.
Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SQSP in relation to earlier this year.
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Squarespace Inc is an all-in-one platform for businesses and independent creators to build an online presence, grow their brands and manage their businesses across the internet. It offers websites, domains, e-commerce, tools for managing a social media presence, marketing tools, and scheduling capabilities. The company primarily derives revenue from monthly and annual subscriptions. Revenue is also derived from non-subscription services including fixed fees earned on revenue share arrangements with third parties and fixed transaction fees that it earns on sales made through customers’ websites.
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