Squarespace (SQSP) Receives a Hold from Oppenheimer

Oppenheimer analyst Kenneth Wong maintained a Hold rating on Squarespace (SQSPResearch Report) today. The company’s shares closed today at $20.93.

Wong covers the Technology sector, focusing on stocks such as Ansys, Wix, and Altair Engineering. According to TipRanks, Wong has an average return of 4.8% and a 47.45% success rate on recommended stocks.

Currently, the analyst consensus on Squarespace is a Moderate Buy with an average price target of $25.90.

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Based on Squarespace’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $212.7 million and a net profit of $64.5 million. In comparison, last year the company earned a revenue of $196.01 million and had a GAAP net loss of $234.53 million

Based on the recent corporate insider activity of 29 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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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