Lack Of E-Commerce Visibility Leads To Squarespace Downgrade, Analyst Says

KeyBanc analyst Josh Beck downgraded Squarespace, Inc SQSP to Sector Weight from Overweight without a price target.
The re-rating reflected a more measured e-commerce backdrop.
Despite Beck's generally optimistic stance on management teams and long-term strategy in the commerce and back-office software space, reduced e-commerce visibility prompts a more cautious stance on Squarespace.
Beck sought increased visibility to growth initiatives, like branded payments, as potential incremental fundamental upside sources.
Pricing optimization and Tock momentum are likely to help near-term results.
As announced in November, e-commerce juggernaut Amazon.Com, Inc AMZN reportedly initiated a round of record layoffs affecting over 18,000 employees as it battled slowing online sales growth and a possible recession.
Price Action: SQSP shares traded lower by 9.07% at $20.85 on the last check Friday.
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Momentum79.23

Growth3.95

Quality82.40

Value48.83

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