Stephens initiated coverage of HubSpot (HUBS) with an Overweight rating and $769 price target as part of a broader research note launching coverage on Application and Enterprise Software names. The firm’s research indicates that customers believe HubSpot is “must-have” software given its very fast ROI and time to value, the analyst tells investors in a research note. Stephens further cites the company’s revenue growth re-acceleration potential with macro getting “less bad” and easing the small-medium business downgrades that HubSpot was seeing. HubSpot customer data also indicates high usage and high value of AI features, Stephens stated.
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