HubSpot price target raised to $520 from $500 at BMO Capital

BMO Capital raised the firm’s price target on HubSpot to $520 from $500 and keeps an Outperform rating on the shares. The company reported a “solid” Q3 earnings beat with higher than expected customer adds, while its retention moved modestly higher relative to Q2, the analyst tells investors in a research note. The 17% constant currency revenue growth outlook is the right starting point for FY24 organic revenue guide, the firm added.