Squarespace, Inc. SQSP shares are trading higher on Friday after announcing the company entered into a definitive agreement with Alphabet Inc. GOOGL to acquire assets from its Google Domains business.
The Details:
After market close on Thursday, Squarespace announced that the company had entered into a definitive asset purchase agreement with Alphabet to acquire approximately 10 million hosted domains from its Google Domains business. The deal is expected to close in the third quarter of 2023, and Squarespace expects benefits from the purchase to be realized in 2024 and beyond.
Mizuho Securities analyst Siti Panigrahi reiterated a Hold rating on SQSP shares today and maintained the price target of $28.00.
Also on Friday, Clarke Jeffries from Piper Sandler reiterated an Overweight rating on Squarespace and maintained the price target of $35.00 per share.
Related News: What's Going On With Oncorus (ONCR) Stock Friday?
SQSP Price Action: According to Benzinga Pro, SQSP stock is trading 4.13% higher at $32.69 at the time of publication.
Image: Jireh Gibson from Pixabay
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