HubSpot price target raised to $750 from $700 at Canaccord

Canaccord raised the firm’s price target on HubSpot (HUBS) to $750 from $700 and keeps a Buy rating on the shares. The firm commented on reports Google (GOOGL) had engaged bankers to discuss considerations involved in making a possible bid for HubSpot. Canaccord said from the HubSpot side, not only would this be the largest applications M&A transaction in history, but it would also cement the firm’s standing as the poster child for how to manage, execute, and scale a software growth business. They think it makes sense for investors to stick with HubSpot to see how this all plays out.