Goldman Sachs Sees Sharp Upside in HubSpot; Initiates Coverage With ‘Buy’ Rating

By Benzinga
Benzinga
Benzinga
December 14, 2021 Updated: December 14, 2021

Goldman Sachs analyst Gabriela Borges initiated coverage of HubSpot Inc. with a Buy rating and $953 price target, implying a 32 percent upside.

While HubSpot has outperformed the Nasdaq by 330 percent over the past two years, its strategy and execution will drive further upside to Street estimates over the next five years, Borges tells investors in a research note.

The analyst says HubSpot has proven its ability to expand beyond its marketing hub into multiple front-office functions.

HubSpot provides cloud-based marketing, sales, and customer service software platform called the growth platform. The applications are available ala carte or packaged together.

In August, the team in charge of Amazon.com Inc. Amazon Web Services marketing software, Pinpoint, reportedly recommended acquiring HubSpot in a $38 billion deal.

By Anusuya Lahiri

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Benzinga