tl;dr
Baird Equity Research upgraded Squarespace (NYSE:SQSP) on the likelihood of the IT company's fundamental merits being better appreciated in estimates/valuation. The stock was trading ~3% higher Monday pre-market at $32.36. "We think there has recently been a meaningful shift in investor sentiment re...
Baird Equity Research upgraded Squarespace (NYSE:SQSP) on the likelihood of the IT company's fundamental merits being better appreciated in estimates/valuation. The stock was trading ~3% higher Monday pre-market at $32.36. "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," Baird said in a research note. The research organization upgraded the recommendation on the stock to Outperform, and raised the price target to $39 from $30. According to Baird, current consensus estimates are likely conservative, Google Domains acquisition seems compelling, the Investor Day could be a positive catalyst for the shares that have struggled given a lack of clarity regarding long-term targets, and the potential drivers/events ahead can help shift sentiment more substantially. The company had posted a Q4 revenue beat. The rating aligns with the Seeking Alpha authors and the sell-side analysts ratings of Buy. Wall Street analysts give the stock a price target of $37.51 on average. Meanwhile, SA's Quant Rating system grades the stock a Hold, considering factors such as Revisions, Valuation, etc.
More about Squarespace Inc
Squarespace Inc is a technology company operating in the services-prepackaged software sector, with a market capitalization of 4413580000. The stock performance shows a decrease of -0.05 in earnings per share and a 7.47% decrease in revenue. The company's market sentiment is currently at -0.007, with a trading volume of 1012336000 and a stock price of 37.92. The analysis suggests potential risks associated with the company's performance and emphasizes that past market behavior is not always a reliable indicator of future performance.
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