These analysts have improved their forecast for HubSpot after earning more than expected revenue (NYSE: HUBS).

HubSpot, Inc. Hub The fourth quarter results on Wednesday reportedly exceeded expectations.

HubSpot reported quarterly earnings of $2.32 per share, surpassing the $2.19 analyst consensus estimate. Quarterly revenue was $703.1 million, surpassing the consensus estimate of $673.32 million.

“Our stable completion by 2024 emphasizes our leadership as a platform company,” said Yamini Rangan, CEO of HubSpot. “2024 is for HubSpot, it’s our reimagining of our products, platforms and A year of change in the company. I’m excited about the advancement of embedding AI in the hub and the value it brings to customers.”

The company said revenue in the first quarter was between $697 million and $699 million, compared with an estimated $707.1 million, with earnings per share between $1.74 and $1.76, compared with an estimated $2.00, the company said.

Hubspot shares rose 0.1% to close at $785.50 on Wednesday.

Following the earnings announcement, the analysts made changes to HubSpot’s price target.

• Oppenheimer analyst Ken Wong kept HubSpot’s performance and raised his target from $850 to $900.
• Piper Sandler analyst Brent Bracelin maintained the neutral Hubspot and raised his target from $640 to $808.
• Canaccord Genuity analyst David Hynes maintained the stock with a buy and raised his target from $710 to $900.
• Morgan Stanley analyst Keith Weiss maintained Hubspot’s overweight and raised his target from $835 to $898.
• Barclays analyst Ryan MacWilliams maintained the stock with the same weight and raised its target from $725 to $815.
• Needham analyst Joshua Reilly maintained HubSpot by buying and raised his target from $730 to $900.
• Truist Securities analyst Terry Tillman reiterated the stock through a buy and raised his target from $750 to $900.

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