Needham Reiterates Hold Rating on HubSpot Inc (HUBS)

Needham analyst Joshua Reilly reiterated a Hold rating and $900.00 price target on HubSpot Inc (NYSE: HUBS).

The analyst commented: 'HubSpot reported a solid 1Q, but they didn't flow through the Q1 beat to the updated FY25 revenue guidance. FY25 guidance did increase by $50mm due to favorable swings in FX during the quarter as the USD weakened significantly. The key focus for investors in the quarter is the expansion and new credit based pricing model for Breeze Agents within Pro and Enterprise tiers in early June. Currently, these customers, about 1% of total customers using the product, are not paying. The company noted there are power users, but the key will be understanding usage trends once the credit system begins in early June. We expect over time the company to expand Breeze Agents down to the Starter tier, but they may use the functionality to entice upgrades longer-term."

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Shares of HubSpot Inc closed at $660.36 yesterday.

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