HubSpot price target raised to $670 from $610 at UBS

UBS raised the firm’s price target on HubSpot to $670 from $610 and keeps a Neutral rating on the shares. HubSpot’s results were in line with all key expectations, including the 18% constant currency revenue guidance for fiscal 2024, the analyst tells investors in a research note. UBS thinks the stock will likely be up on a view that the continuation of 10,000 quarterly net new logo adds provides comfort that FY24 revenue can grow in the low to mid-20s in constant currency even without an inflection in net retention rates.