Citi opens ‘positive catalyst watch’ on Squarespace into investor day

Citi analyst Ygal Arounian opened a “30-day positive catalyst watch” on shares of Squarespace following the company’s “strong” Q1 report. The analyst expects long-term financial targets to be provided at the investor day. When combined with Squarespace’s fundamental outperformance, they should provide upside and positive sentiment from investors, the analyst tells investors in a research note. Citi believes Squarespace has solid momentum coming into its investor day and keeps a Buy rating on the shares with a $46 price target.