HubSpot Inc (HUBS) PT Raised to $400 at Cowen

Cowen analyst J. Derrick Wood raised the price target on HubSpot Inc (NYSE: HUBS) to $400.00 (from $360.00) while maintaining a Market Perform rating into results on 2/11.

The analyst commented, "HUBS reports 4Q on 2/11. Following a strong 3Q rebound, we expect upside to come back down closer to historic levels & anticipate moderate upside to our 23% cc est, w/ '21 guidance likely 2-3% above Street esp. w/ an FX boost. Digital marketing trends remain encouraging & we like HUBS' evolving growth strategies, but we view valuations rather full & see less surprise levers vs. 3Q. PT to $400."

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