HubSpot price target raised to $695 from $620 at Jefferies

Jefferies raised the firm’s price target on HubSpot to $695 from $620 and keeps a Buy rating on the shares. The firm is citing its checks, third-party data, and a stable macro backdrop adding to its confidence that the company can post modest upside to consensus on Q4 revenue and margins, the analyst tells investors in a research note. For 2024 revenue guidance, investors anticipate 18% constant-currency growth, and this should be “achievable” due to stable demand, easier comps, and the recent pricing change, the firm added.