HubSpot price target lowered to $700 from $750 at Stifel

Stifel analyst J. Parker Lane lowered the firm’s price target on HubSpot (HUBS) to $700 from $750 and keeps a Buy rating on the shares after speaking with five Elite partners. The partners noted that their respective agencies outperformed internal expectations, particularly positive in light of a more mixed Q1, and all five partners noted improving trends in market dynamics such as deal cycles and market sentiment, the analyst tells investors in a research note. The potential impact AI will have on seat counts remains the key overhang, Stifel says.