HubSpot Inc (HUBS) PT Raised to $740 at UBS

UBS analyst Taylor McGinnis raised the price target on HubSpot Inc (NYSE: HUBS) to $740.00 (from $650.00) while maintaining a Neutral rating.

The analyst said, "6 HUBS checks were largely upbeat on near-term demand trends, with partners highlighting a strong 4QF24 performance (a seasonally adj. improvement compared to 1HF24 and FY23) and the potential for a better 2025 (two are expecting an acceleration in their practice growth rates). This appeared to out-weigh concerns related to slow adoption of AI and greater competition with CRM. We continue to remain constructive on HUBS’ fundamentals and as an SMB recovery play, but at 13x CY25 EV/S and 77x EV/FCF, much of this excitement appears priced in. While the feedback from our checks gives us further comfort in HUBS’ ability to maintain high-teens to 20% growth, we prudently left our 15% C/C revs growth rate for 4QF24 and FY25 unchanged, but lowered FY25 Y/Y revs growth to 13% from 15% given recent movements in FX."

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