HubSpot (HUBS) Receives a Buy from Guggenheim

Guggenheim analyst Kenneth Wong maintained a Buy rating on HubSpot (HUBSResearch Report) yesterday. The company’s shares closed last Monday at $596.00, close to its 52-week high of $616.45.

According to TipRanks.com, Wong is a 5-star analyst with an average return of 29.8% and a 74.7% success rate. Wong covers the Technology sector, focusing on stocks such as BigCommerce Holdings, Altair Engineering, and Progress Software.

HubSpot has an analyst consensus of Strong Buy, with a price target consensus of $596.92, representing a 0.2% upside. In a report issued on July 19, Raymond James also maintained a Buy rating on the stock.

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Based on HubSpot’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $281 million and GAAP net loss of $23.16 million. In comparison, last year the company earned revenue of $199 million and had a GAAP net loss of $17.72 million.

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HubSpot, Inc. provides cloud-based marketing and sales software platform that enables businesses to deliver an inbound experience. It operates through the following geographical segments: Americas, Europe, and Asia Pacific. The company was founded by Brian Halligan and Dharmesh Shah on April 4, 2005 and is headquartered in Cambridge, MA.