HubSpot's (HUBS) Price Target Raised to $67 at Pacific Crest
- Stocks dip as earnings pour in, consumer discretionary lags
- UPDATE: Alphabet (GOOG) Tops Q3 EPS Views; Revs Strong
- Baker Hughes (BHI), General Electric (GE) in Partnership Talks, Not Merger Talks
- Cirrus Logic, Inc. (CRUS) Q2 Results and Guidance Beat Estimates
- Amazon.com (AMZN) Misses Q3 EPS by 26c, Offers Q4 Guidance
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Pacific Crest maintained an Overweight rating on HubSpot Inc (NYSE: HUBS) and raised its price target to $67.00 (from $60.00). Analyst Brent Bracelin said he sees multiple upside levers to help sustain 30%-plus growth. The price target was raised to factor in the continuation of increasing subscription fees.
"A strong pipeline of new products should better position HubSpot to become the modern front office for the SMB segment, helping it expand beyond its initial role in SMB marketing. Strong adoption of the new sales product has enabled greater visibility and integration between marketing and sales activities. With half of R&D pouring into new product development, we see a compelling opportunity for HubSpot to drive higher subscription fees that could sustain high growth, even as the number of new SMB customers moderates over time," said Bracelin.
The analyst added, "Rising average subscription fees, as measured by revenue per customer growing double-digits annually as the company folds in new products, should remain one of the key upside levers looking into next year. Other upside levers include international expansion, SMB footprint expansion and a growing network of partners. We expect HubSpot's annual INBOUND conference in November to be the next potential catalyst for new product announcements."
Shares of HubSpot Inc closed at $55.21 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Rosenblatt Upgrades NETGEAR (NTGR) to Buy
- Jefferies Raises Price Target as Cheesecake Factory (CAKE) Posts 3Q Beat
- Jefferies Raises Price Target on Exelon Corp. (EXC) Following 3Q EPS Beat
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Related EntitiesUBS, Pacific Crest Securities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!