Baird Upgrades Squarespace (SQSP) to Outperform

Baird analyst Vikram Kesavabhotla upgraded Squarespace (NYSE: SQSP) from Neutral to Outperform with a price target of $39.00 (from $30.00).

The analyst comments "We think there has recently been a meaningful shift in investor sentiment regarding the web building category - and in our view, SQSP has not participated to a sufficient degree despite healthy execution, revenue growth, and margin expansion. We believe SQSP is well-positioned to see its fundamental merits better appreciated in estimates/valuation over the NTM, aided by continued strength in execution, the integration of Google Domains, and an Investor Day on the horizon (May 15th). We are upgrading to Outperform and raising our price target to $39."

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 $32.36 yesterday.

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