Raymond James analyst Brian Peterson downgraded HubSpot to Outperform from Strong Buy with a price target of $520, down from $600. The analyst believes the stock’s significant outperformance year-to-date sets up a more balanced risk/reward scenario relative to historical levels. The firm’s early Q3 checks have also suggested more cautious trends, which it says “could create a choppy environment for shares in the short-term.”
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