HubSpot (HUBS): Good Numbers Offset By Rich Valuation, PT To $82 - Cowen

Cowen analyst, Derrick Wood, reiterated his Market Perform rating on shares of HubSpot Inc (NYSE: HUBS) and raised the price target to $82 from $76 after the company reported billings growth of 36%, slightly ahead of the analyst's 35% estimate (which was raised in Sep. post analyst day). The analyst focused on acceleration in int'l growth driven by recent investments.

The analyst stated "We remain on the sidelines due to valuation and an evolving operating model that is in unchartered territory. Trading at nearly ~7x EV/CY18E Sales in after-hours, above its small cap growth peer group at ~6.5x, we find valuations to be a bit rich, especially in light of its higher churn profile".

For an analyst ratings summary and ratings history on HubSpot Inc click here. For more ratings news on HubSpot Inc click here.

Shares of HubSpot Inc closed at $85.95 yesterday.

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