Squarespace for Pros introduces clear competitor for Wix’s Studio, says Barclays

Barclays reiterated an Overweight rating and $235 price target on Wix.com (WIX) as peer Squarespace launched Squarespace for Pros, offering refreshed tools and a Circle Partner Program for Pros. Improved editing tools and back-end for project management underscores the attractiveness of the do-it-for-me channel, but also introduces a clear competitor for Wix’s Studio offering, the analyst tells investors in a research note. The firm added that it is too early tot say if or how this impacts Wix Partner growth, noting that Wix already has a big heard start among Pros.