Stifel raised the firm’s price target on HubSpot to $625 from $600 and keeps a Buy rating on the shares after having had the opportunity to speak with seven HubSpot agency partners in the new year to discuss Q4 and gauge expectations around 2024. Feedback around the demand environment was “a mixed bag,” but partners expressed optimism around 2024 based on late-quarter activity and Q1 pipelines, says the analyst, who thinks HubSpot is poised to deliver upside to its “conservative” Q4 outlook.
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