Squarespace(US:SQSP) ZACKS·2024-08-08 17:01Core Viewpoint - Squarespace (SQSP) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive trend in earnings estimates which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system is based on changes in a company's earnings picture, which is crucial for stock price movements [2][4]. - An increase in earnings estimates typically leads to higher fair value calculations by institutional investors, resulting in stock price movements [4]. Company Performance Indicators - The upgrade reflects an improvement in Squarespace's underlying business, suggesting that investors may respond positively by driving the stock price higher [5]. - Squarespace is projected to earn $0.48 per share for the fiscal year ending December 2024, representing a year-over-year increase of 1060% [8]. Analyst Consensus and Revisions - Over the past three months, the Zacks Consensus Estimate for Squarespace has risen by 9.9%, indicating a positive trend in analyst estimates [8]. - The Zacks Rank system maintains a balanced approach, with only the top 20% of stocks receiving a 'Strong Buy' or 'Buy' rating, highlighting Squarespace's strong position in earnings estimate revisions [9][10].