Needham Reiterates Buy Rating on HubSpot Inc (HUBS)

Needham analyst Joshua Reilly reiterated a Buy rating and $300.00 price target on HubSpot Inc (NYSE: HUBS).

The analyst commented: "As we highlighted exiting the Unbound 2026 customer conference, we didn't expect demand trends to rebound in Q3, and it appears they actually got worse throughout the quarter with Q4 CC revenue growth guided to 12% versus 17% in Q3 indicating net new ARR trends have clearly worsened throughout the course of the year. The company shared on the call they now expect net new ARR to actually decline Y/Y in 2026, which is due to a number of factors but the largest being change in buying scrutiny and lower productivity following the sales retraining in the Spring. Overall, we believe HUBS is set to focus more up-market, while down-market trends are increasingly competitive with AI start-ups, while up-market is likely poised for a recovery sometime in 2027. We think the net result is 2027 consensus estimates need to come down."

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 $216.64 yesterday.

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