These Analysts Boost Price Targets On Squarespace Following Q4 Results

Squarespace, Inc. SQSP reported better-than-expected Q4 sales and issued strong Q1 guidance.

Squarespace said Q4 revenue increased 10% year-over-year to $228.81 million, which beat average analyst estimates of $222.11 million. The company reported a quarterly loss of $1.72 per share, down from a loss of 12 cents per share year-over-year.

The company said it sees full-year 2023 revenue in a range of $955 million to $970 million, versus estimates of $949.4 million.

Squarespace shares jumped 14.6% to close at $27.54 on Tuesday and lost 0.9% in today’s pre-market trading session.

These analysts made changes to their price targets on Squarespace following the release of results.

• Piper Sandler raised the price target on Squarespace from $30 to $35. Piper Sandler analyst Clarke Jeffries maintained an Overweight rating.
• Raymond James increased the price target on Squarespace from $26 to $30. Raymond James analyst Aaron Kessler maintained an Outperform rating.
• Citigroup boosted the price target on Squarespace from $21 to $30. Citigroup analyst Ygal Arounian maintained a Neutral rating.
• Barclays raised the price target on Squarespace from $24 to $28. Barclays analyst Trevor Young maintained an Equal-Weight rating.
• Mizuho raised the price target on Squarespace from $20 to $26. Mizuho analyst Siti Panigrahi maintained a Neutral rating.
• B of A Securities raised the price target on Squarespace from $32 to $36. B of A Securities analyst Nat Schindler maintained a Buy rating.

RBC Capital raised the price target on Squarespace from $22 to $26. RBC Capital analyst Brad Erickson maintained a Sector Perform rating.

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