These Analysts Increase Their Forecasts On HubSpot Following Better-Than-Expected Earnings

Core Insights - HubSpot, Inc. reported stronger-than-expected fourth-quarter results with earnings of $2.32 per share, surpassing the analysts' consensus estimate of $2.19, and quarterly revenue of $703.17 million, exceeding the consensus estimate of $673.32 million [1] - CEO Yamini Rangan highlighted 2024 as a transformative year for HubSpot, emphasizing the integration of AI into their products and platforms, which is driving value for customers [2] - The company projects first-quarter revenue between $697 million and $699 million, below the estimate of $705.71 million, and EPS between $1.74 and $1.76, compared to the $2.00 estimate [2] Analyst Reactions - Oppenheimer analyst Ken Wong maintained an Outperform rating and raised the price target from $850 to $900 [4] - Piper Sandler analyst Brent Bracelin maintained a Neutral rating and increased the price target from $640 to $808 [4] - Canaccord Genuity analyst David Hynes maintained a Buy rating and raised the price target from $710 to $900 [4] - Morgan Stanley analyst Keith Weiss maintained an Overweight rating and boosted the price target from $835 to $898 [4] - Barclays analyst Ryan Macwilliams maintained an Equal-Weight rating and raised the price target from $725 to $815 [4] - Needham analyst Joshua Reilly maintained a Buy rating and increased the price target from $730 to $900 [4] - Truist Securities analyst Terry Tillman reiterated a Buy rating and raised the price target from $750 to $900 [4]