Needham & Company Assumes HubSpot Inc (HUBS) at Buy

November 28, 2022 6:36 AM EST
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Price: $365.76 -8.09%

Rating Summary:
    31 Buy, 5 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 10 | Down: 32 | New: 9
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(Updated - November 28, 2022 6:37 AM EST)

Needham & Company analyst Joshua Reilly assumes coverage on HubSpot Inc (NYSE: HUBS) with a Buy rating and a price target of $380.00.

The analyst comments "We are transferring coverage of HubSpot to Joshua Reilly, CFA, while maintaining our Buy rating and lowering our price target to $380 per share based on the DCF model we detail in this report. Additionally, we are adding HubSpot to the conviction list, and removing Zuora. We expect HubSpot to gain market share due to its highly efficient GTM effort combined with organic product development, which results in strong customer satisfaction and a structurally higher gross dollar retention in the high 80%s. We note the company is growing rapidly, expanding at 3x the market's 11% rate over the last four years, yet its share is a still-small 4%. Near-term, HubSpot faces macro and FX headwinds, but we expect the company to recovery quickly when the economy strengthens."

For an analyst ratings summary and ratings history on HubSpot Inc click here. For more ratings news on HubSpot Inc click here.

Shares of HubSpot Inc closed at $290.18 yesterday.

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