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Lack Of E-Commerce Visibility Leads To Squarespace Downgrade, Analyst Says

  • KeyBanc analyst Josh Beck downgraded Squarespace, Inc (NYSE: SQSP) to Sector Weight from Overweight without a price target.

  • The re-rating reflected a more measured e-commerce backdrop.

  • Despite Beck's generally optimistic stance on management teams and long-term strategy in the commerce and back-office software space, reduced e-commerce visibility prompts a more cautious stance on Squarespace.

  • Beck sought increased visibility to growth initiatives, like branded payments, as potential incremental fundamental upside sources.

  • Pricing optimization and Tock momentum are likely to help near-term results.

  • As announced in November, e-commerce juggernaut Amazon.Com, Inc (NASDAQ: AMZN) reportedly initiated a round of record layoffs affecting over 18,000 employees as it battled slowing online sales growth and a possible recession.

  • Price Action: SQSP shares traded lower by 9.07% at $20.85 on the last check Friday.

  • Photo Via Company

Latest Ratings for SQSP

Date

Firm

Action

From

To

Mar 2022

Truist Securities

Maintains

Buy

Mar 2022

Wedbush

Maintains

Neutral

Mar 2022

RBC Capital

Maintains

Sector Perform

View More Analyst Ratings for SQSP

View the Latest Analyst Ratings

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This article originally appeared on Benzinga.com

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