Macquarie analyst Frederick Havemeyer has maintained their bullish stance on HUBS stock, giving a Buy rating today.
Frederick Havemeyer has given his Buy rating based on HubSpot’s impressive performance and strategic positioning. HubSpot concluded fiscal year 2023 with remarkable results, surpassing expectations in sales and non-GAAP operating margins during the fourth quarter. Despite challenging economic conditions, the company managed to guide a respectable 18% year-on-year revenue growth for the fiscal year 2024. Havemeyer recognizes HubSpot’s success in growing margins and enhancing its product suite, which has contributed to making its offerings more accessible to customers.
Havemeyer’s optimism is further buoyed by HubSpot’s consistent execution throughout the year, particularly in overcoming initial demand sluggishness to deliver strong results in all quarters. The analyst notes the company’s ability to secure large deals and drive adoption through its consolidated platform, especially among upper-market customers. The re-launch of the Sales Hub, which grew the fastest of all hubs in Q4, also stands out as a testament to HubSpot’s innovation and market resilience. Consequently, Havemeyer has raised the target price by 10% to $710, reflecting confidence in HubSpot’s strategy and its position as a leader in inbound marketing and lead generation.
In another report released today, Argus Research also maintained a Buy rating on the stock with a $720.00 price target.
HUBS’s price has also changed moderately for the past six months – from $510.070 to $613.500, which is a 20.28% increase.
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HubSpot (HUBS) Company Description:
HubSpot, Inc. provides cloud-based marketing and sales software platform that enables businesses to deliver an inbound experience. It operates through the following geographical segments: Americas, Europe, and Asia Pacific. The company was founded by Brian Halligan and Dharmesh Shah on April 4, 2005 and is headquartered in Cambridge, MA.
Read More on HUBS:
- Bad News for HubSpot, Inc. Stock: This New Risk Has Been Added
- HubSpot price target raised to $700 from $600 at Truist
- HubSpot price target raised to $730 from $630 at Needham
- HubSpot price target raised to $725 from $650 at Oppenheimer
- HubSpot price target raised to $763 from $697 at Morgan Stanley
