Squarespace (SQSP) To Report Earnings Tomorrow: Here Is What To Expect
Stock Story
Published Feb 27, 2024 02:00AM ET
Updated Feb 27, 2024 06:02AM ET
Squarespace (SQSP) To Report Earnings Tomorrow: Here Is What To Expect
Website and ecommerce tools provider Squarespace (NYSE:SQSP) will be reporting earnings tomorrow before the bell. Here's what to expect.
Last quarter Squarespace reported revenues of $257.1 million, up 18.1% year on year, beating analyst revenue expectations by 2%. It was a solid quarter for the company, with strong sales guidance for the next quarter.
Is Squarespace buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Squarespace's revenue to grow 15% year on year to $263.2 million, improving on the 10.3% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.26 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company has a history of exceeding Wall St's expectations, beating revenue estimates every single time over the past two years on average by 1.5%.
Looking at Squarespace's peers in the e-commerce software segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. GoDaddy (NYSE:GDDY) delivered top-line growth of 5.8% year on year, missing analyst estimates by 0.1% and VeriSign (NASDAQ:VRSN) reported revenues up 3% year on year, exceeding estimates by 0.7%. Both stocks (GoDaddy and VeriSign) traded flat on the results.
Read the full analysis of GoDaddy's and VeriSign's results on StockStory.
Investors in the e-commerce software segment have had steady hands going into the earnings, with the stocks down on average 1.5% over the last month. Squarespace is up 3.4% during the same time, and is heading into the earnings with analyst price target of $35.2, compared to share price of $33.6.
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Written By: Stock Story
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