HubSpot price target lowered to $500 from $605 at BMO Capital

BMO Capital lowered the firm’s price target on HubSpot to $500 from $605 but keeps an Outperform rating on the shares ahead of its Q3 results this week. The quarter is expected to be more challenging than the previous few quarters, largely driven by macro headwinds, the analyst tells investors in a research note. The firm adds however that while several other tech companies have talked about challenges in the SMB market segment amid growing competition, investor expectations for HubSpot’s growth rates have also meaningfully moderated.