UPDATE: Raymond James Upgrades HubSpot Inc (HUBS) to Strong Buy; 'Bull Case Too Compelling to Ignore'
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
(Updated - February 12, 2021 7:18 AM EST)
Raymond James analyst Brian Peterson upgraded HubSpot Inc (NYSE: HUBS) from Outperform to Strong Buy with a price target of $725.00 (from $365.00).
The analyst commented, "We're upgrading shares of HubSpot from Outperform to Strong Buy following impressive 4Q20 results and an above consensus outlook for 2021, which suggests 30%+ growth should continue for the foreseeable future. While we're not typically fans of reactionary rating changes (shares up ~15% after hours), we simply can't ignore our confidence in HubSpot's product portfolio and market opportunity to modernize B2B selling motions, which should experience significant investments over the next decade. While HubSpot has long been a major player in the Marketing space, our checks also indicate that product synergies with the rest of the "Hubs" has accelerated, creating multiple vectors for revenue per customer growth. Even after the ~15% move after hours, shares still trade at only 17x our CY22 estimate, a substantial discount to the 30%+ growth group at 33x. Look for that gap to close in short order."
Shares of HubSpot Inc closed at $510.00 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- HubSpot Inc (HUBS) Prints Best Growth in 5 Years, PT Raised to $600 at Jefferies
- Keysight Technologies (KEYS) PT Raised to $178 at Susquehanna
- Floor & Decor Holdings, Inc. (FND) PT Raised to $131 at BofA Securities on Blowout Comps
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Hot Upgrades, Upgrades
Related EntitiesUBS, Raymond James
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!