In the latest market close, Squarespace reached $30.56, with a +0.49% movement compared to the previous day. The stock exceeded the S&P 500, which registered a gain of 0.43% for the day. Elsewhere, the Dow saw an upswing of 0.19%, while the tech-heavy Nasdaq appreciated by 0.71%.
Shares of the a software company have appreciated by 1.43% over the course of the past month, outperforming the Computer and Technology sector's loss of 1.56% and the S&P 500's loss of 2.1%.
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. The company is expected to report EPS of $0.17, up 142.86% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $252.37 million, indicating a 15.93% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.29 per share and revenue of $993.36 million, indicating changes of +252.63% and +14.58%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Squarespace. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, Squarespace is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Squarespace is currently being traded at a Forward P/E ratio of 106.7. This expresses a premium compared to the average Forward P/E of 24.12 of its industry.
It's also important to note that SQSP currently trades at a PEG ratio of 6.34. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Internet - Software and Services stocks are, on average, holding a PEG ratio of 1.47 based on yesterday's closing prices.
The Internet - Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 27, putting it in the top 11% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SQSP in the coming trading sessions, be sure to utilize Zacks.com.
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Squarespace (SQSP) Outpaces Stock Market Gains: What You Should Know
In the latest market close, Squarespace reached $30.56, with a +0.49% movement compared to the previous day. The stock exceeded the S&P 500, which registered a gain of 0.43% for the day. Elsewhere, the Dow saw an upswing of 0.19%, while the tech-heavy Nasdaq appreciated by 0.71%.
Shares of the a software company have appreciated by 1.43% over the course of the past month, outperforming the Computer and Technology sector's loss of 1.56% and the S&P 500's loss of 2.1%.
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. The company is expected to report EPS of $0.17, up 142.86% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $252.37 million, indicating a 15.93% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.29 per share and revenue of $993.36 million, indicating changes of +252.63% and +14.58%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Squarespace. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, Squarespace is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Squarespace is currently being traded at a Forward P/E ratio of 106.7. This expresses a premium compared to the average Forward P/E of 24.12 of its industry.
It's also important to note that SQSP currently trades at a PEG ratio of 6.34. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Internet - Software and Services stocks are, on average, holding a PEG ratio of 1.47 based on yesterday's closing prices.
The Internet - Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 27, putting it in the top 11% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SQSP in the coming trading sessions, be sure to utilize Zacks.com.