Rosenblatt Reiterates Buy on HubSpot (HUBS) Ahead of 3Q Report
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Rosenblatt reiterated a Buy rating and $67.00 price target on HubSpot Inc (NYSE: HUBS) ahead of the company's 3Q earnings report. Billings is one area that could be impacted from a strong 3Q15 and by the switch in Inbound dates. ARPU growth should be 15% or higher for the quarter as contact counts rise, more URL subscriptions and improved add-on sales.
Analyst Kirk Adams commented, "Hubspot reports 3Q16 earnings later this month and our research shows that business remains good in the partner channel and we expect that the report will be inline to slightly better on revenues and earnings. The company’s guided numbers are for revenue to be between $67.2M and $68.2M and non-GAAP earnings to be a loss of ($0.14) – ($0.12)."
Shares of HubSpot Inc closed at $57.55 yesterday.
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