Why HubSpot Stock Wilted on Wednesday
Business software specialist HubSpot (NYSE: HUBS) wasn't looking very special mid-week. On Wednesday, the company came under fire as two analysts reduced their price targets on its stock. By the time the smoke cleared, HubSpot's share price was down by nearly 5%, a notably steeper fall than the S&P 500 index's 0.7% slide on the day.
The two prognosticators' cuts were roughly similar. Morgan Stanley's Keith Weiss now feels HubSpot stock is worth $378 per share, down from his previous estimation of $405. His peer J. Derrick Wood at Cowen reduced his level to $390 from the preceding $415.
Neither analyst is willing to throw in the towel on HubSpot, though, as both have maintained their buy recommendations on the company.
Source Fool.com
