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Squarespace (SQSP) Gets a Hold Rating from RBC Capital

In a report issued on July 14, Brad Erickson from RBC Capital maintained a Hold rating on Squarespace (SQSPResearch Report), with a price target of $22.00. The company’s shares closed last Monday at $21.32, close to its 52-week low of $14.43.

According to TipRanks.com, Erickson is a 5-star analyst with an average return of 16.5% and a 43.8% success rate. Erickson covers the Technology sector, focusing on stocks such as Zillow Group Class A, Fiverr International, and Alphabet Class A.

Squarespace has an analyst consensus of Moderate Buy, with a price target consensus of $26.89, implying a 26.9% upside from current levels. In a report issued on July 14, JMP Securities also downgraded the stock to Hold.

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Squarespace’s market cap is currently $2.93B and has a P/E ratio of -8.51.

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Squarespace Inc is an all-in-one platform for businesses and independent creators to build an online presence, grow their brands and manage their businesses across the internet. It offers websites, domains, e-commerce, tools for managing a social media presence, marketing tools, and scheduling capabilities. The company primarily derives revenue from monthly and annual subscriptions. Revenue is also derived from non-subscription services including fixed fees earned on revenue share arrangements with third parties and fixed transaction fees that it earns on sales made through customers’ websites.

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