UPDATE: Oppenheimer Starts HubSpot Inc (HUBS) at Outperform

Oppenheimer analyst Ken Wong initiates coverage on HubSpot Inc (NYSE: HUBS) with a Outperform rating and a price target of $350.00.

The analyst comments "We are initiating coverage of HubSpot (HUBS) with an Outperform rating and a $350 price target. We see HubSpot's emergence as a true CRM platform opening up multiple vectors to sustain growth, while also insulating fundamentals from macro headwinds (relative to point solutions). With recession winds swirling, we are seeing the financial performance of platforms fare better than many standalone offerings. History suggests platform vendors will take share and scale through softer markets. Not surprisingly, we have also seen investors prioritize profits over growth. We believe HubSpot represents an optimal combination of platform investments with operational excellence (high-single-digit operating margins)."

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 $290.96 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
• HubSpot (HUBS) call put ratio 1.3 calls to 1 put as share price up 11.4%