Wells Fargo lowered the firm’s price target on HubSpot (HUBS) to $650 from $750 and keeps an Overweight rating on the shares. According to Bloomberg, Alphabet (GOOGL) is shelving efforts to acquire HubSpot, the analyst tells investors in a research note. The firm sees the news as a buying opportunity for long-term investors and continues to view HubSpot as well-positioned to become the next scaled platform vendor in front office software. It is unclear if another bidder could emerge, the firm adds.
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