Squarespace reinstated with a Buy at BofA

BofA reinstated coverage of Squarespace with a Buy rating and $35 price target, citing the belief that Squarespace is well positioned to gain share within the website building and hosting market as a design-first platform targeting “prosumers,” or professionals building websites for their small businesses. Squarespace has room to expand services while appealing to the broadest set of potential customers, says the analyst, who thinks the Generative AI threat “could be overstated” and is now offering investors a stock price discount.