Has HubSpot’s Stock (NYSE: HUBS) Found Support As Selloff Abates?

HubSpot’s price target (NYSE: HUBS) has seen a range of upgrades over the past month or so, to a consensus of $863. A new upgrade from Barclays yesterday, boosting their rating on HUBS from “Equal Weight” to “Overweight” is a further boost for holders who have seen the stock move in the opposite direction over on the month.

The HubSpot stock price has shed 25.45% on the month, giving up early year gains, and moving negative over the past year, down 2.23%. Barclays’ rating adjustment comes as a result of the company’s potential to capitalise on AI-driven opportunities, with an unchanged $815 price target.

The shift in rating reflects Barclays’ increased optimism about HubSpot’s future growth, particularly through AI-driven monetisation strategies and pricing changes that can “unlock additional wallet spend”.

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HubSpot’s net revenue retention is projected to trend back toward 110%, with revenue growth anticipated to enter the mid-20% range over multiple years, driven by AI and pricing factors. This is aided by HubSpot’s integrated platform approach, which combines a unified system of record with AI-powered features and emerging product hubs.

With the recent $585 level seeing bulls move back in, the question now is whether this level will act as a new floor of support, of if further short term pain is to come. Either way, the street appears largely bullish on the future prospects for the firm, with the low price target of $643 reflecting some ~5% upside from current price action.