HubSpot price target raised to $450 from $390 at Stifel

Stifel analyst J. Parker Lane raised the firm’s price target on HubSpot to $450 from $390 and keeps a Buy rating on the shares after Q4 results that came in "well ahead" of expectations. Management’s 2023 outlook calls for "slight upside" to consensus on the top-line, but a "meaningful step up in profitability," said the firm, which added that management’s commentary that the demand environment remains challenged but not incrementally worse since last quarter gives the firm confidence in the full year outlook.