Truist raised the firm’s price target on HubSpot (HUBS) to $750 from $600 and keeps a Buy rating on the shares. The firm notes Q3 results were strong with upside to its estimates across the model. Highlights from the quarter included customer adds now offsetting average subscription revenue per customer declines, improved downgrade trends and maintaining gross retention in the high 80s%, solid AI product traction, and continued multi-hub traction. Outlook moves higher with Q3 beat and 1 point FX tailwind in Q4 guidance, Truist adds.
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