Tillman Cautious on HubSpot (HUBS) Despite Robust Q3 Performance

Core Insights - HubSpot Inc. is recognized as a promising stock with significant upside potential, despite a recent price target adjustment by Truist analyst Terry Tillman from $675 to $650 while maintaining a Buy rating [1] Financial Performance - In Q3 2025, HubSpot reported revenue of $810 million, reflecting an 18.4% year-over-year increase [2] - Subscription revenue grew by 21% year-over-year, while Services & Other revenue increased by 19% [2] Customer Growth and Strategy - The company added 10,900 new customers in Q3, bringing the total customer count to approximately 279,000 [3] - HubSpot's multi-hub adoption strategy is effective, with 43% of the Pro+ installed base by ARR subscribing to three core hubs [3] Future Guidance - HubSpot provided Q4 revenue guidance of $828 to $830 million, indicating a 16% year-over-year growth [3]