Piper Sandler lowered the firm’s price target on HubSpot (HUBS) to $590 from $675 and keeps an Overweight rating on the shares. The firm notes the 10%-plus selloff after hours reflects investor frustration with another quarter of 18% cc revenue growth coupled with a Q4 guide of 16% cc growth. While Piper continues to have confidence in the growth drivers of this business, timing of when these levers drive a growth rebound is less obvious.
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