SQSP Stock Recent News

Squarespace's (SQSP) third-quarter 2023 results reflect strength in the Presence and Commerce segments.

Squarespace has announced its financial results for the third quarter, showcasing growth in bookings and revenue. The company, known for its design-driven platform that helps entrepreneurs build brands and businesses online, reported total bookings of $267 million, representing an 18% increase compared to the same period in 2022.

Uber Technologies Inc (NYSE:UBER), down 0.7% to $47.80, swung to profit in the third quarter as customers flocked to the ride-hailing firm. Gross bookings in the three months ending September grew 21% year-over-year to $35.3 billion, with mobility gross bookings of $17.9 billion, up 31% on a year ago, and delivery gross bookings of $16.1 billion, up 18%.

Squarespace Inc said it was on track to top $1 billion of sales in 2023 after a strong third quarter. "We are on track to exceed $1 billion in total revenue by the end of 2023, a significant milestone for Squarespace as we continue to expand our offerings and footprint globally," said Anthony Casalena, founder & chief executive.

Squarespace (SQSP) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

In the latest trading session, Squarespace (SQSP) closed at $27.86, marking a -1.21% move from the previous day.

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Squarespace (SQSP) reachead $28.63 at the closing of the latest trading day, reflecting a +0.56% change compared to its last close.

Dan Chandre, Squarespace vice president, head of acuity and payments, told Karen Webster that a key to connecting merchants with his firm's platform lies with payments. And to that end, Squarespace's taking on the mantle of payments facilitator.

BofA Securities analysts believe Squarespace Inc is well positioned to gain share within the website building/hosting market as a design-first platform targeting "prosumers" (service professionals building websites for their small businesses).  They are projecting above-average growth and profitability for the company in 2023 even as the Street considers Generative AI a risk for the entire website building industry due to GenAI's ability to automatically write scripts and webpages.