Stifle Reiterates Buy On HubSpot; Increased Price Target Implies 2.3% Upside

Stifel analyst J. Parker Lane raised the price target on HubSpot Inc HUBS to $600 from $565, implying a 2.3% upside, and reiterated a Buy rating.

  • The rating follows discussion with multiple partners in the HubSpot ecosystem ahead of the company's Q2 earnings report. 
  • His partner and customer checks clarified that HubSpot continues to be one of the dominant players in the CRM and marketing space for small and medium-sized businesses.
  • HubSpot's Q2 revenue estimate of $297 million is about the consensus forecast near $295 million.
  • Price action: HUBS shares traded higher by 1.18% at $583.57 on the last check Wednesday.
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