Hubspot (HUBS) is rising today as Wall Street sentiment shifts in a bullish direction. The company, known for producing sales and marketing software, has been on a winning streak lately, making up the ground it lost after declining throughout July and August 2024. Yesterday, it reported ai-innovations">strong Q3 earnings, prompting multiple Wall Street analysts to increase their price targets. This puts HUBS stock in an excellent position to finish the year in the green.
What’s Happening with Hubspot Stock?
After a week of mostly steady growth, Hubspot is still rising as Wall Street reacts positively to its Q3 earnings. As of this writing, HUBS stock is up 8% for the day, and despite some early trading volatility, its current trajectory suggests that it is likely to keep rising. This performance has pushed Hubspot up 13% over the past five days.
Since Hubspot reported strong earnings for Q3 with both total revenue and subscription revenue rising 20%, several analysts have released highly bullish takes on HUBS stock. Keith Bachman of BMO Capital increased his price target from $570 to $680, implying an 8% upside potential. Kenneth Wong of Oppenheimer raised his from $625 to $740, implying 16% upside potential.
TD Cowen analyst Derrick Wood did not change his Hubspot price target. However, he did assign HUBS stock a Buy rating, and his $680 price target implies an upside potential of 7%. This rising positive sentiment from Wall Street could continue to generate momentum for Hubspot into 2025 as the company shakes off this year’s volatility.
Wall Street Is Highly Bullish on HUBS Stock
Overall, analysts have a Strong Buy consensus rating on HUBS stock based on 22 Buys, four Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. Despite a 44% rally in its share price over the past year, the average HUBS price target of $625.85 per share still implies 2% downside potential.
