HubSpot shares got a price target boost from Bank of America to $900 from $880. The bank maintained its buy rating.
BofA analyst Brad Sills is optimistic that HubSpot will report a solid upside to the bank’s estimate of the company's third-quarter revenue and billings growth. The third-quarter earnings report is expected Nov. 4.
“We recently completed calls with numerous key ad agency partners to gauge activity in the quarter,” Sills said. According to Sills, key takeaways from such calls include notable uptick in demand for HubSpot's leading front office suite to accelerate digital marketing efforts, with particular strength in core Marketing and Sales Hubs; Sales Hub is driving the most conversations of all the Hubs with customers; and, there is a solid early uptake in the Operations Hub.