HubSpot Analysts Cut Their Forecasts After Q3 Results

HubSpot Inc HUBS posted upbeat results for its third quarter.

Revenue came in at $557.6 million beating estimates of $534.11 million. The company posted EPS of $1.59 versus estimates of $1.24.

HubSpot expects fourth-quarter revenue to be between $556 million and $558 million. Full-year revenue is expected to be in the range of $2.144 billion and $2.146 billion.

HubSpot shares fell 5% to trade at $419.85 on Thursday.

These analysts made changes to their price targets on HubSpot following earnings announcement.

• Raymond James lowered the price target on HubSpot from $520 to $510. Raymond James analyst Brian Peterson maintained an Outperform rating.
• Morgan Stanley slashed the price target on HubSpot from $568 to $539. Morgan Stanley analyst Keith Weiss maintained an Overweight rating.
• Piper Sandler analyst Brent Bracelin, meanwhile, reiterated with a Neutral and maintained a $515 price target.
• RBC Capital analyst Rishi Jaluria reiterated HubSpot with an Outperform and maintained a $625 price target.

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