
HubSpot: Buying The 'Death Of Software' Narrative Hand Over Fist (Upgrade)
HubSpot is upgraded to a "Strong Buy" as its valuation has compressed despite robust top-line growth and improving profitability. HUBS delivered 21% YoY revenue growth and its first positive GAAP operating income, with management guiding for 18% growth next quarter. Trading at 5.4x forward sales, HUBS offers substantial upside potential through margin expansion, share repurchases, and possible re-rating to higher PEG multiples.


















