UBS analyst Taylor McGinnis upgraded HubSpot (HUBS) to Buy from Neutral with a price target of $675, down from $775. The firm cites valuation for the upgrade with the shares down 35% since mid-February. The setup is attractive for a “high-quality software company” who has a more conservative fiscal 2025 guidance and could be a “snapback long if macro headwinds prove to be overblown,” the analyst tells investors in a research note. UBS believes HubSpot’s company-specific growth tailwinds are underappreciated and could help to curb downside pressures in the near-term and support durable growth in the long-term.
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