HubSpot price target raised to $720 from $604 at Argus

Argus analyst Joseph Bonner raised the firm’s price target on HubSpot to $720 from $604 and keeps a Buy rating on the shares. The company is adapting to the current challenging business environment by shifting its marketing strategy with an emphasis on the ability of its software to drive customer revenue while also lowering costs, the analyst tells investors in a research note. Argus also cites HubSpot continuing to innovate, noting the company having recently introduced new AI-based products, while boosting its FY24 EPS view to $7.13 from $6.41.