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Benzinga
Benzinga
Business
Anusuya Lahiri

Why Are HubSpot Shares Trading Higher Today?

  • Analysts mainly hailed HubSpot Inc's (NYSE:HUBSQ4 performance by raising their price targets on the stock.
  • Mizuho analyst Siti Panigrahi raised the price target on HubSpot to $625 from $500 (16.92% upside) and kept a Buy rating on the shares. 
  • The company reported strong results once again in Q4 on broad-based strength with a particular edge from Operations Hub, Panigrahi notes.
  • The analyst says HubSpot's consistent execution and ongoing product expansion position it to benefit from digital transformation efforts favorably.
  • Cowen analyst J. Derrick Wood upgraded HubSpot to Outperform from Market Perform with a price target of $750, up from $600 (40.31% upside). 
  • He sees the creation of a "compelling" buying opportunity by combining the stock's greater than 35% pullback from its November peak coupled with the management's "highly confident" tone regarding its new post-COVID growth levers being durable. 
  • HubSpot is successfully moving up-market, driving up ARPU, and expanding with a broadening portfolio, said Wood, who sees a runway ahead for durable 30%-plus long-term growth.
  • Piper Sandler analyst Brent Bracelin maintained HubSpot with an Overweight and raised the price target from $715 to $735 (37.5% upside).
  • Raymond James analyst Brian Peterson maintained HubSpot with a Strong Buy and lowered the price target from $900 to $700 (30.95% upside).
  • Price Action: HUBS shares traded higher by 11.3% at $595.00 in the premarket session on Friday.
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