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Mizuho analyst Siti Panigrahi upgraded Squarespace (NYSE:SQSP) to Buy from Neutral, raising the forecast to $50 from $34.
According to the analyst, the company can deliver a significant upside to consensus estimates. The upside scenario implies almost 22% year-over-year growth in 2024 (consensus at 19%). Squarespace also has potential for 20% year-over-year growth in 2025 (consensus at 14%).
The major growth levers underappreciated for Squarespace are – Google Domains asset acquisition and its halo effect driving new domains, pricing tailwind in 2025, and a modest contribution from Squarespace Payments.
Panigrahi emphasizes that these drivers will position the company for 20%+ growth with …
Full story available on Benzinga.com
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