HubSpot European partner sees strong start to Q1, says Raymond James

Raymond James hosted a webinar with an “elite” HubSpot (HUBS) partner with a presence in several large European markets to gauge demand trends. The partner referenced a stronger than expected start to Q1 with 40% growth versus expectations of 20%, although that was mostly driven by some large deal activity, the analyst tells investors in a research note. The partner noted some caution in budgets from customers and admitted to less visibility into the back half of the year, but remained confident that the first half forecast would exceed the annual target of 20% growth, Raymond James points out. The firm has an Outperform rating on HubSpot.