HubSpot Inc (HUBS) PT Raised to $690 at BMO Capital

BMO Capital analyst Keith Bachman raised the price target on HubSpot Inc (NYSE: HUBS) to $690.00 (from $570.00) while maintaining a Outperform rating.

The analyst commented, "HUBS reported another quarter of healthy upside to all metrics, and management continues to execute well against a tepid environment. Our FY24 estimates are moving higher, though our Dec quarter revenue and operating margin forecasts are largely unchanged, due to conservatism in management’s guidance, in our judgement. HUBS continues to embed AI across its platform in different ways. Given that HUBS is a leading front office innovator, we believe that HUBS is deserving of a premium valuation, and we reiterate our Outperform rating and raise our target price to $690."

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