HubSpot Inc (HUBS) Expert Call Points to an Improvement in Seasonal Strength from 3Q - Jefferies

Jefferies analyst Samad Samana reiterated a Buy rating and $800.00 price target on HubSpot Inc (NYSE: HUBS) after hosting a call with the CEO of a Diamond-level HUBS partner. Key takeaways include:
1) 4Q21 exhibited normal season strength, although not like 4Q20 [very strong due to
pent-up demand]

2) the outlook for 2022 points to sustained strength going forward

3) deal sizes continue to get larger due to both more enterprise traction and higher attach rates.

The analyst stated "Our speaker noted that in 4Q21 his HUBS business saw normal seasonal strength after a seasonally slower 3Q21. The business was at plan, with solid results in Oct/Nov and a slightly stronger Dec. With this said, he noted 4Q21 had slightly less $'s of new business booked than 4Q20. We are not concerned due to the context—our speaker noted 4Q20 was atypically strong due to pent-up demand returning after a sharp slowdown in deals in 2Q-3Q20. For FY21, his HUBS business was up 30-40%, driven by new customer adds and upselling/cross-selling existing customers additional Hubs and higher tiers."

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 $427.67 yesterday.

You May Also Be Interested In

• Is Software back from the dead? Truist lists M&A candidates amid Workday rumors
• Freedom Broker Upgrades Lifeway Foods (LWAY) to Buy
• Intuitive Machines Inc. (LUNR) PT Lowered to $32 at Cantor Fitzgerald, Reaffirms Overweight Rating