Why Squarespace Stock Is Soaring Today

Squarespace Inc SQSP shares are trading higher Tuesday after the company reported fourth-quarter results and issued guidance above analyst estimates.

What Happened: Squarespace said fourth-quarter revenue increased 10% year-over-year to $228.81 million, which beat average analyst estimates of $222.11 million, according to Benzinga Pro. The company reported a quarterly loss of $1.72 per share, down from a loss of 12 cents per share year-over-year.

"We ended the fourth quarter with accelerated growth and exceeded our revenue and unlevered free cash flow guidance, continuing the strong momentum growing in our business," said Nathan Gooden, CFO of Squarespace. 

Squarespace expects first-quarter revenue to be between $232 million and $234 million versus estimates of $227.29 million. The company sees full-year 2023 revenue in a range of $955 million to $970 million versus estimates of $949.4 million.

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SQSP Price Action: Squarespace has a 52-week high of $30.69 and a 52-week low of $14.43.

The stock was up 14% at $27.40 at the time of writing, according to Benzinga Pro.

Photo: courtesy of Squarespace.