HubSpot price target lowered to $600 from $700 at Stifel

Stifel analyst J. Parker Lane lowered the firm’s price target on HubSpot to $600 from $700 and keeps a Buy rating on the shares. The analyst recently spoke with five Elite HubSpot partners to get a sense of the demand environment in Q2 and agency outlooks for the second half and reports that most partners “described another mixed quarter.” Ahead of earnings, the firm lowered its price target as the stock’s M&A premium has “dissolved,” but adds that it believes the recent pullback in shares “presents a strong buying opportunity.”