HubSpot Inc (HUBS) PT Raised to $775 at Evercore ISI Following 'Upbeat Analyst Meeting'
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Evercore ISI analyst Kirk Materne raised the price target on HubSpot Inc (NYSE: HUBS) to $775.00 (from $630.00) while maintaining a In Line rating.
The analyst comments "Overall, Hubspot remains in a strong position in the SMB market and we believe that its platform strategy is paying dividends not only in terms of accelerating growth in 2021, but perhaps more importantly in the improvement in gross churn and higher ARPC in its mid-sized and corporate customers. Both of which will be key in terms of maintaining a +30% growth profile in CY22 & CY23 against tougher compares. We are bumping our PT to $775 or ~18x EV/CY23 sales as we roll forward onto CY23 estimates and we expect that our/Street outyear revenue estimates leave room for upside."
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