Needham & Company Starts HubSpot Inc (HUBS) at Buy

Needham & Company initiates coverage on HubSpot Inc (NYSE: HUBS) with a Buy rating and a price target of $50.00.

Analyst Michael Huang commented, "We believe HubSpot is a premier SaaS secular growth story benefiting from a huge horizontal multi-geography market opportunity and several compelling trends. Key business metrics, including recurring rev growth, billings growth, ARPU growth, retention rates, and gross margins are impressively up and to the right, suggesting the strength of underlying trends and top-of-class sales execution that could power continued premium growth rates for the foreseeable future. At the end of the day, the traditional function of marketing is getting disrupted, and we believe HubSpot stands to benefit disproportionately given brand and product leadership."

For an analyst ratings summary and ratings history on HubSpot Inc click here. For more ratings news on HubSpot Inc click here.

Shares of HubSpot Inc closed at $39.60 yesterday.

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