Stifel analyst J. Parker Lane lowered the firm’s price target on HubSpot (HUBS) to $600 from $650 and keeps a Buy rating on the shares. After speaking with four HubSpot Elite partners to get an update on their Q3 performance, the firm says feedback was “more mixed” this quarter, with partners seeing longer deal cycles and a shift in the nature of work they’re doing for HubSpot customers. However, long-term demand trends remain favorable and partners see long-term opportunity in the ecosystem, the analyst added.
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