Squarespace may have ‘left some meat on the bone,’ says Oppenheimer

Oppenheimer analyst Ken Wong keeps a Perform rating on Squarespace after the company entered into a definitive agreement to be taken private by Permira for $44 per share in cash. The firm views the takeout valuation as “reasonable,” but says it could be argued that management “left some meat on the bone.” The analyst sees another financial buyer potentially entering the picture but does not see website creation as strategic enough to entice a technology buyer to pursue the asset.