Piper Sandler analyst Brent Bracelin lowered the firm’s price target on HubSpot to $515 from $520 and keeps a Neutral rating on the shares. The firm is taking a proactive stance to better reflect five risk factors that it is now factoring into models and valuation multiples for 2024, namely 2024 Street estimates that appear too high, AI priority shift creating “airpocket” risk, 3P data showing September erosion, little margin for error after valuation rebound, and investor sentiment that remains mixed.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on HUBS:
- HubSpot transferred with an Outperform at Macquarie
- HubSpot price target lowered to $568 from $604 at Morgan Stanley
- HubSpot price target lowered to $593 from $660 at KeyBanc
- Amgen upgraded, Texas Instruments downgraded: Wall Street’s top analyst calls
- HubSpot downgraded to Outperform from Strong Buy at Raymond James