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Squarespace (SQSP) Dips More Than Broader Markets: What You Should Know
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Squarespace (SQSP - Free Report) closed at $32.19 in the latest trading session, marking a -0.4% move from the prior day. This change lagged the S&P 500's 0.1% loss on the day. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 5.8%.
Prior to today's trading, shares of the a software company had gained 2.96% over the past month. This has lagged the Computer and Technology sector's gain of 3.39% and the S&P 500's gain of 3.39% in that time.
Wall Street will be looking for positivity from Squarespace as it approaches its next earnings report date. This is expected to be August 8, 2023. In that report, analysts expect Squarespace to post earnings of $0.13 per share. This would mark a year-over-year decline of 71.11%. Meanwhile, our latest consensus estimate is calling for revenue of $243.22 million, up 14.35% from the prior-year quarter.
SQSP's full-year Zacks Consensus Estimates are calling for earnings of $0.35 per share and revenue of $977.98 million. These results would represent year-over-year changes of +284.21% and +12.8%, respectively.
Investors might also notice recent changes to analyst estimates for Squarespace. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 6.47% higher. Squarespace is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Squarespace currently has a Forward P/E ratio of 91.3. Its industry sports an average Forward P/E of 18.02, so we one might conclude that Squarespace is trading at a premium comparatively.
The Internet - Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 39, putting it in the top 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Squarespace (SQSP) Dips More Than Broader Markets: What You Should Know
Squarespace (SQSP - Free Report) closed at $32.19 in the latest trading session, marking a -0.4% move from the prior day. This change lagged the S&P 500's 0.1% loss on the day. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 5.8%.
Prior to today's trading, shares of the a software company had gained 2.96% over the past month. This has lagged the Computer and Technology sector's gain of 3.39% and the S&P 500's gain of 3.39% in that time.
Wall Street will be looking for positivity from Squarespace as it approaches its next earnings report date. This is expected to be August 8, 2023. In that report, analysts expect Squarespace to post earnings of $0.13 per share. This would mark a year-over-year decline of 71.11%. Meanwhile, our latest consensus estimate is calling for revenue of $243.22 million, up 14.35% from the prior-year quarter.
SQSP's full-year Zacks Consensus Estimates are calling for earnings of $0.35 per share and revenue of $977.98 million. These results would represent year-over-year changes of +284.21% and +12.8%, respectively.
Investors might also notice recent changes to analyst estimates for Squarespace. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 6.47% higher. Squarespace is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Squarespace currently has a Forward P/E ratio of 91.3. Its industry sports an average Forward P/E of 18.02, so we one might conclude that Squarespace is trading at a premium comparatively.
The Internet - Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 39, putting it in the top 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.