A hefty product suite and rising brand awareness could propel Squarespace shares, according to UBS.
The investment bank initiated coverage of Squarespace with a buy rating accompanied by a price target of $40 per share.
Analyst Chris Kuntarich highlighted Squarespace's suite of content-generation AI products as a driver behind near-term subscriber monetization and long-term subscriber growth.
Shares of the website builder have gained 24% this year, outperforming the S & P 500's 12.8% advance in that time.
SQSP YTD mountain SQSP ytd chart — Michael Bloom contributed to this report
Persons:
Chris Kuntarich, Kuntarich, SQSP, they've, Michael Bloom
Organizations:
UBS, Google