Raymond James Starts Squarespace (SQSP) at Outperform

June 14, 2021 6:42 AM EDT
Get Alerts SQSP Hot Sheet
Price: $53.16 -0.26%

Rating Summary:
    11 Buy, 4 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 18 | Down: 11 | New: 19
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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."

For an analyst ratings summary and ratings history on Squarespace click here. For more ratings news on Squarespace click here.

Shares of Squarespace closed at $59.90 yesterday.



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Raymond James, Aaron Kessler