Elizabeth Porter, an analyst from Morgan Stanley, reiterated the Buy rating on HubSpot. The associated price target was lowered to $640.00.
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Elizabeth Porter’s rating is based on several factors that highlight HubSpot’s potential for future growth. Despite a slight miss in expectations for accelerated growth, HubSpot’s core fundamentals remain strong, with steady growth in key areas such as platform consolidation and expansion into larger markets. The company’s ability to maintain momentum in its multi-hub adoption, with a significant portion of customers using multiple hubs, underscores its robust business model.
Furthermore, Elizabeth Porter notes that while immediate growth may appear stable, the underlying drivers such as seat-based pricing and AI enhancements are poised to contribute to faster growth in the future. The current valuation of HubSpot presents a favorable risk-reward scenario compared to its peers, making it an attractive investment opportunity. Overall, the combination of durable growth engines and emerging opportunities supports the Buy rating, with expectations for stronger performance in the upcoming fiscal year.
According to TipRanks, Porter is an analyst with an average return of -5.3% and a 44.33% success rate. Porter covers the Technology sector, focusing on stocks such as Autodesk, HubSpot, and Figma, Inc. Class A.
In another report released today, Bank of America Securities also reiterated a Buy rating on the stock with a $515.00 price target.