HubSpot, the Technology sector company, was revisited by a Wall Street analyst today. Analyst Joshua Reilly from Needham maintained a Buy rating on the stock and has a $700.00 price target.
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Joshua Reilly’s rating is based on HubSpot’s consistent performance and potential for future growth. Despite a conservative revenue growth forecast for Q4, HubSpot has shown a solid 18% year-over-year growth in constant currency revenue for Q3, marking the third consecutive quarter of maintaining this growth rate. This indicates a stable growth trajectory, which supports a positive outlook.
Reilly acknowledges that the anticipated acceleration in annual recurring revenue (ARR) might take longer to impact revenue growth than initially expected. However, the overall growth projections for 2026 align with market expectations and slightly exceed Needham’s estimates. These factors, combined with the company’s strategic positioning and market potential, contribute to the Buy rating, even as the price target is adjusted to $700 due to anticipated challenges like the Clearbit headwind in 2025.
Reilly covers the Technology sector, focusing on stocks such as Jamf Holding, HubSpot, and Tyler Technologies. According to TipRanks, Reilly has an average return of 2.2% and a 44.49% success rate on recommended stocks.
In another report released today, Bernstein also maintained a Buy rating on the stock with a $602.00 price target.