.July 11, 2024 03:56:00 PM

Citi analysts reaffirmed a Buy rating and $767 price target on HubSpot (NYSE:HUBS) stock, following a 12% drop after Alphabet backed out of a potential bid. They believe the extent of the pullback is excessive compared to broader declines in front-office software stocks. Despite the setback, HubSpot’s strong fundamental prospects remain intact, with anticipated product, pricing, and generative AI benefits expected in the second half of the year. This is seen as providing a long growth runway for the company.