JMP Securities analyst Andrew Boone reiterated a Buy rating on Squarespace (SQSP – Research Report) today and set a price target of $45.00. The company’s shares closed yesterday at $36.88.
Boone covers the Communication Services sector, focusing on stocks such as Alphabet Class A, DoorDash, and Meta Platforms. According to TipRanks, Boone has an average return of 5.8% and a 51.80% success rate on recommended stocks.
Currently, the analyst consensus on Squarespace is a Moderate Buy with an average price target of $39.00.
Based on Squarespace’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $270.72 million and a net profit of $5.26 million. In comparison, last year the company earned a revenue of $228.81 million and had a GAAP net loss of $233.96 million
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Squarespace (SQSP) Company Description:
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.
