HubSpot Inc (HUBS) PT Raised to $880 at Stifel

Stifel analyst J. Parker Lane raised the price target on HubSpot Inc (NYSE: HUBS) to $880.00 (from $750.00) while maintaining a Buy rating.

The analyst commented, "2024 has been a year of significant updates for HUBS, including a redefined pricing model in March, the relaunch of CMS Hub as Content Hub in April, and handfuls of AI-related announcements throughout the year. Commentary from the company and partners has been largely positive around product updates and has trended in the right direction around the company's new pricing model, but to take a more quantitative look at recent changes, we conducted a survey (n=26) over the past week. 15/26 respondents were Elite Partners, while the remaining 11 were Diamond partners, which we believe allowed us to avoid low-end-partner weakness driven by 2023 partner program changes. On top of driving inbound demand/co-selling with HubSpot reps, partners are involved in 75% of new customer onboardings, so we believe the customer base's general thoughts on new products are well-captured through the lenses of partners."

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