HubSpot Analysts Cut Their Forecasts After Q2 Results
Portfolio Pulse from Avi Kapoor
HubSpot, Inc. (NYSE:HUBS) posted better-than-expected Q2 earnings, with EPS of $2.03 beating estimates by 24.54% and revenue of $637.2 million beating estimates by 2.87%. Despite the positive results, analysts from Truist Securities and Canaccord Genuity cut their price targets from $700 to $600 while maintaining Buy ratings.
August 08, 2024 | 12:47 pm
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HubSpot reported strong Q2 earnings, beating both EPS and revenue estimates. However, analysts from Truist Securities and Canaccord Genuity cut their price targets from $700 to $600 while maintaining Buy ratings.
Despite strong earnings, the reduction in price targets by analysts may create mixed sentiment among investors. The stock may experience short-term volatility as the market digests the positive earnings against the lowered price targets.
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