HubSpot downgraded to Neutral from Overweight at Piper Sandler

Piper Sandler analyst Brent Bracelin downgraded HubSpot to Neutral from Overweight with a price target of $520, up from $482. The stock’s risk/reward appears balanced after the 80% year-to-date move higher, the analyst tells investors in a research note. Generative artificial intelligence optimism has contributed to material multiple expansion across the broader software sector, but HubSpot shares now appear fairly valued in the short-run, says the firm.