Stifel Assumes HubSpot Inc (HUBS) at Buy
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Stifel analyst J. Parker Lane assumes coverage on HubSpot Inc (NYSE: HUBS) with a Buy rating and a price target of $550.00.
The analyst commented, "As of Tuesday's close, Stifel is transferring coverage of HubSpot from Tom Roderick to J. Parker Lane. We are retaining our Buy rating, $550 target price, and current estimates for HubSpot.Following a 2H20 that saw acceleration in both subscription revenue and billings, we anticipate HubSpot will deliver 1Q21 results that reflect strong new customer acquisition activity and heightened levels of interest and demand for its Enterprise offerings. With the shift to digital contributing to an acceleration in customer adds during each of the last three quarters of 2020 and customer count exceeding 100k for the first time, we believe HubSpot is now well positioned to execute on its "flywheel" strategy and drive customer expansion through multi-product engagements. With newer solutions like Service Hub and CMS Hub coming into their own from a feature standpoint, the multi-product approach is becoming increasingly appealing to both net new and existing customers."
Shares of HubSpot Inc closed at $490.52 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesStifel, UBS, Definitive Agreement
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