Why Are HubSpot Shares Trading Higher Today?

Analysts mainly hailed HubSpot Inc's HUBS Q4 performance by raising their price targets on the stock.
Mizuho analyst Siti Panigrahi raised the price target on HubSpot to $625 from $500 (16.92% upside) and kept a Buy rating on the shares.
The company reported strong results once again in Q4 on broad-based strength with a particular edge from Operations Hub, Panigrahi notes.
The analyst says HubSpot's consistent execution and ongoing product expansion position it to benefit from digital transformation efforts favorably.
Cowen analyst J. Derrick Wood upgraded HubSpot to Outperform from Market Perform with a price target of $750, up from $600 (40.31% upside).
He sees the creation of a "compelling" buying opportunity by combining the stock's greater than 35% pullback from its November peak coupled with the management's "highly confident" tone regarding its new post-COVID growth levers being durable.
HubSpot is successfully moving up-market, driving up ARPU, and expanding with a broadening portfolio, said Wood, who sees a runway ahead for durable 30%-plus long-term growth.
Piper Sandler analyst Brent Bracelin maintained HubSpot with an Overweight and raised the price target from $715 to $735 (37.5% upside).
Raymond James analyst Brian Peterson maintained HubSpot with a Strong Buy and lowered the price target from $900 to $700 (30.95% upside).
Price Action: HUBS shares traded higher by 11.3% at $595.00 in the premarket session on Friday.

Analyst Calendar