Jefferies raised the firm’s price target on HubSpot to $620 from $515 and keeps a Buy rating on the shares. HubSpot was “among the pacesetters for performance in our coverage in 2023” and has a strong record of outperforming the IGV on an annual basis in most years, says the analyst. While the firm does not see the same magnitude occurring in 2024 as 2023 given the outsized moves, it calls the stock a “must-own for a growth stock portfolio” in software.
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