Goldman Sachs Sees Sharp Upside In HubSpot; Initiates Coverage With 'Buy' Rating

Goldman Sachs analyst Gabriela Borges initiated coverage of HubSpot Inc HUBS with a Buy rating and $953 price target, implying a 32% upside.
While HubSpot has outperformed the Nasdaq by 330% over the past two years, its strategy and execution will drive further upside to Street estimates over the next five years, Borges tells investors in a research note.
The analyst says HubSpot has proven its ability to expand beyond its marketing hub into multiple front-office functions.
HubSpot provides cloud-based marketing, sales, and customer service software platform called the growth platform. The applications are available ala carte or packaged together.
In August, the team in charge of Amazon.com Inc AMZN Amazon Web Services marketing software, Pinpoint, reportedly recommended acquiring HubSpot in a $38 billion deal.
Price Action: HUBS shares traded higher by 0.12% at $724.13 on the last check Monday.

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