The stock of Squarespace Inc. (NYSE:SQSP) decreased by -$0.09 on Friday to finish at $29.16, down -0.31 percent. The last five days have seen an average of 488,280 shares of common stock traded. 24 times new highs were reached in the current year, with a gain of $6.99. The average number of shares traded over the last 20 days was 505,245, while the average volume over the last 50 days totaled 634,700.
SQSP stock dropped -7.49% since last month. On 08/25/23, the company’s shares reached a one-month low of $28.63. The stock touched a high of $34.38 on 06/16/23, after rallying from a low of $16.86 in 52 weeks. The price of SQSP stock has risen by 31.53% or $6.99 this year, reaching a new high 24 times. Still, the stock price is down -15.18% from the 52-week high.
Top 5 AI Stocks to Buy for 2023
The artificial intelligence (AI) revolution is already here. And it's about to change everything we know about everything.
According to Grand View Research, the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030. And investors like you always want to get in on the hottest stocks of tomorrow. Here are five of the best ways to profit from the AI boom.
Click Here to Download the FREE Report.
Sponsored
Insider Transactions
SQSP stock investors should be aware that Squarespace Inc. (SQSP) stock had its last reported insider trading activity 4 days ago on Aug 24. On Aug 24, General Counsel and Secretary O’Connor Courtenay sold 1,749 shares at $29.18 each. This transaction resulted in the insider making $51,036. On Aug 21, Gubbay Paul sold 4,876 shares at a price of US$30.34. After the transaction, the insider now owns 20,363 shares. Chief Executive Officer Casalena Anthony had earlier sold 22,900 shares on Aug 15 for $30.57 a share. The transaction was completed for $700,053.
Valuation Metrics
Beta for the stock is 0.45. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 4.26, and the price-to-cash flow ratio of 21.53.
Financial Health
For the three months ended June 29, Squarespace Inc.’s quick ratio was 0.80, while its current ratio was 0.80, indicating its inability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 82.30% percent. Squarespace Inc.’s EBITDA margin for the year ended June 29 was 5.44%, whereas its operating margin stood at -15.80% for the same period. Based on annual data, it had gross profit of $714.32 million and revenue of $866.97 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. SQSP’s return on assets (ROA) during the last 12 months has been -27.30%. There was a -113.30% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 90.20%.
Earnings Surprise
According to Squarespace Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $247.36 million, while revenues rose by 14.01% to $237.03 million. It was predicted that Squarespace Inc.’s quarterly earnings would be $0.03, but it ended up being $0.13, beating the consensus by -76.90%. EBITDA was $43.9 million for the quarter. At the end of Squarespace Inc.’s most recent quarter ended June 29, its liabilities totaled 1.06 billion, while its total debt was $610.11 million. Equity owned by shareholders amounts to $135.57 million.
Technical Picture
Here’s a quick look at Squarespace Inc.’s (SQSP) price momentum from a technical perspective. As of 25 August, the RSI 9-day stood at 26.97%, suggesting the stock is oversold, with a 14.62% historical volatility rate.
The stochastic %K and %D were 5.59% and 6.53% respectively, while the average true range (ATR) was 0.93. Based on the 14-day stochastic reading of 10.48%, the RSI (14) reading is 35.80%. On the 9-day MACD Oscillator, the stock is at -0.56, and the 14-day reading is at -0.97.
Analyst Ratings
In a note to investors, Mizuho maintained its a Neutral rating on Squarespace Inc. (NYSE: SQSP). However, the firm raised their price target to $32, indicating a possible decrease of -4.14% in the stock price. Analysts have assigned Squarespace Inc. (SQSP) an Overweight rating. SQSP is a stock that is recommended for selling by 0 brokerage firms, while 11 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 6 others recommend it as a buy.
What is SQSP’s price target for the next 12 months?
The current consensus forecast for the stock is between $30.00 and $40.00, with a median target price of $35.00. In analyzing these forecasts, the average price target given by analysts for Squarespace Inc. (SQSP) is $35.25.
