Needham & Company Assumes HubSpot Inc (HUBS) at Buy
- Wall Street ends down after stunning jobs growth raises Fed questions
- Elon Musk wins 'funding secured' trial
- U.S. nonfarm payroll growth blows past forecasts in January, up 517k
- Analysts defend Apple (AAPL) as earnings miss drags shares lower
- Amazon (AMZN) drops after earnings, analysts worried about AWS uncertainty
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."
Shares of HubSpot Inc closed at $290.18 yesterday.
You May Also Be Interested In
- Today's most important upgrades
- UBS Upgrades International Paper (IP) to Neutral, 'Increased Confidence in the Market Demand Trough'
- Concordia Financial Group (7186:JP) (CCRDF) PT Raised to JPY770 at Nomura/Instinet
Create E-mail Alert Related CategoriesAnalyst Comments, Hot Comments, Hot New Coverage, New Coverage
Related EntitiesUBS, Needham & Company
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!