Berenberg Bank Initiated Coverage on Squarespace, Expects 40% Upside
<p>Analysts at Berenberg Bank initiated coverage on <a href='https://financialmodelingprep.com/financial-summary/SQSP'>Squarespace, Inc. (NYSE:SQSP)</a>, a SaaS-based web development platform that enables small and medium businesses to create and grow their digital presence, with a buy rating and $42 price target, which implies over 40% upside. </p>
<p>Analysts believe the company, with around 4 million unique subscriptions and $621 million generated revenue in 2020, is well-positioned to benefit from turning professional-grade web design and development into a mass-market DIY product, tapping into a $150-$180 billion TAM. With its strong market share, the company is also believed to be well-positioned to benefit from any potential consolidation scenarios.</p>

NYSE:SQSP