Squarespace price target raised to $42 from $40 at Citi

Citi raised the firm’s price target on Squarespace to $42 from $40 and keeps a Buy rating on the shares. The analyst is “incrementally positive on Squarespace after another beat-and-raise print.” While there was some concern on the implied high-single-digit organic growth in fiscal 2024, a stepdown from 17%, Citi disagrees and believes the fundamental factors are actually much stronger, the analyst tells investors in a research note.