Squarespace is a publicly traded company on the New York Stock Exchange (NYSE) under the ticker symbol SQSP. The company offers a web-based platform for businesses and individuals to create websites and online stores. Squarespace was founded in 2003 and is headquartered in New York City.
The company went public in 2015 at $15 per share. Shares of Squarespace have since declined and are currently trading around $10. While the stock is down, some investors believe that now may be a good time to buy shares of the company.
Here are some reasons why buying Squarespace stock may be a good idea:
1. The company is profitable. Squarespace reported net income of $7 million in the first quarter of 2020, up from $5 million in the same quarter last year. This shows that the company is growing and becoming more profitable.
2.
The company has strong growth prospects. Squarespace’s revenue grew by 31% in the first quarter of 2020. This shows that there is strong demand for the company’s products and services and that its growth prospects are strong.
3. The stock is undervalued. shares of Squarespace are currently trading at around $10, which is below the company’s intrinsic value of $11.50 per share. This means that the stock is undervalued and could potentially go up in price in the future.
Overall, buying Squarespace stock may be a good idea for investors who are looking for growth stocks with strong fundamentals.
