Raymond James Starts Squarespace (SQSP) at Outperform
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Raymond James analyst Aaron Kessler initiates coverage on Squarespace (NYSE: SQSP) with an Outperform rating and a price target of $70.00.
The analyst commented, "Our positive fundamental view is based on: 1) Squarespace is well positioned to benefit from several key industry trends, including increasing adoption of online presence solutions, rapid growth of online commerce, and increasing desire among SMBs for direct-to-consumer relationships. 2) Squarespace has established itself as a leading global web presence solution with an emphasis on design and an all-in-one platform. 3) We expect 15-20% long-term revenue growth driven by new market expansion, product expansion, deeper engagement with existing customers, enterprise capabilities, experts community expansion, and targeted acquisitions. 4) Strong track record of EBITDA and FCF profitability - we expect gross margins of 80%+ and EBITDA margins of 30%+ driven by scale efficiencies."
Shares of Squarespace closed at $59.90 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesRaymond James, Aaron Kessler
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