HubSpot (HUBS) Stock: $500 Target And Overweight Rating

By Amit Chowdhry ● Aug 17, 2022
  • The shares of HubSpot (HUBS) recently received a $500 price target from Wells Fargo. These are the details.

The shares of HubSpot (HUBS) recently received a $500 price target from Wells Fargo. And Wells Fargo analyst Michael Turrin is maintaining an “Overweight” rating on the shares.

Turrin adjusted the rating while noting that investor concerns have piled up recently. And the shares have meaningfully underperformed despite a strong CC outlook issued in the first quarter. And Turrin noted that the second half of the year setup is admittedly challenging with tougher comps, partner feedback suggesting the second half of the 2022 pipeline is moderating, and incremental FX.

Plus Turrin believes HubSpot continues to show improving signs of winning up-market, untapped pricing power, and improving traction in newer hubs to cross-sell — which helps fuel record retention rates for the company and creates a more diversified customer/product set than appreciated.