HubSpot To Gain From Healthy New Customer Adds, Product Expansion: Analyst
Portfolio Pulse from Nabaparna Bhattacharya
BMO Capital Markets analyst Keith Bachman has reiterated an Outperform rating on HubSpot, Inc. (NYSE:HUBS), raising the price target to $520 from $500. The company's Q3 revenues were up 26% YoY, beating EPS estimates. The analyst believes the company's Q4 revenue guidance is conservative and highlights HubSpot's strong position in the SMB market, healthy new customer additions, product expansion, and upmarket opportunity. Following Q3, the analyst raised FY23 revenue guidance to $2.146 billion from $2.118 billion and EPS guidance to $5.67 from $5.26.
November 09, 2023 | 7:35 pm
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POSITIVE IMPACT
HubSpot's Q3 revenues beat estimates and an Outperform rating has been reiterated by BMO Capital Markets analyst, with a raised price target. The company's strong position in the SMB market and potential for durable revenue growth are highlighted.
The analyst's positive outlook on HubSpot, including the raised price target and revenue guidance, indicates a strong belief in the company's growth potential. This could lead to increased investor confidence and a potential rise in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100