Squarespace (SQSP) Stock Moves -0.03%: What You Should Know
The latest trading session saw Squarespace (SQSP) ending at $29.93, denoting a -0.03% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a loss of 1.34% for the day. Meanwhile, the Dow experienced a drop of 0.98%, and the technology-dominated Nasdaq saw a decrease of 1.62%.
Shares of the a software company have appreciated by 2.6% over the course of the past month, outperforming the Computer and Technology sector's loss of 0.34% and the S&P 500's loss of 1.57%.
The investment community will be closely monitoring the performance of Squarespace in its forthcoming earnings report. The company is scheduled to release its earnings on November 7, 2023. On that day, Squarespace is projected to report earnings of $0.13 per share, which would represent year-over-year growth of 85.71%. At the same time, our most recent consensus estimate is projecting a revenue of $252.37 million, reflecting a 15.93% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.29 per share and revenue of $993.36 million. These totals would mark changes of +252.63% and +14.58%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Squarespace. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Squarespace is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Squarespace has a Forward P/E ratio of 105.05 right now. This denotes a premium relative to the industry's average Forward P/E of 24.38.
Investors should also note that SQSP has a PEG ratio of 6.24 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Internet - Software and Services industry had an average PEG ratio of 1.46 as trading concluded yesterday.
The Internet - Software and Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 67, this industry ranks in the top 27% of all industries, numbering over 250.
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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Squarespace, Inc. (SQSP) : Free Stock Analysis Report
