RBC Capital Reaffirms Their Hold Rating on Squarespace (SQSP)

In a report released on May 13, Brad Erickson from RBC Capital maintained a Hold rating on Squarespace (SQSP – Research Report), with a price target of $38.00. The company’s shares closed yesterday at $43.19.

Erickson covers the Consumer Cyclical sector, focusing on stocks such as Carvana Co, Amazon, and Booking Holdings. According to TipRanks, Erickson has an average return of 18.9% and a 54.61% success rate on recommended stocks.

Currently, the analyst consensus on Squarespace is a Moderate Buy with an average price target of $43.30, a 0.25% upside from current levels. In a report released yesterday, Barclays also maintained a Hold rating on the stock with a $44.00 price target.

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.