Piper Sandler analyst Clarke Jeffries raised the firm’s price target on Squarespace to $45 from $40 and keeps an Overweight rating on the shares. Despite 13% organic growth this quarter, 12% growth in new website subscriptions should demonstrate the health of Squarespace’s organic growth prospects, the firm says. Piper continues to view shares as attractively valued for a low-double-digit growth CAGR over the medium term and modest free cash flow margin expansion.
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Read More on SQSP:
- Squarespace raises FY24 revenue view to $1.19B-$1.21B from $1.17B-$1.19B
- Squarespace raises FY24 revenue view to $1.19B-$1.21B, consensus $1.18B
- Squarespace sees Q2 revenue $291M-$294M, consensus $289.5M
- Squarespace reports Q1 EPS 0c, consensus (9c)
- Squarespace Announces First Quarter 2024 Financial Results
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