HubSpot Price Target Slashed to $400 from $590 by Piper Sandler
Piper Sandler cut HubSpot’s price target to $400 from $590 while maintaining an Overweight rating, citing seat compression and vibe coding pressures. Over the past month, BMO, UBS, Goldman Sachs, and Morgan Stanley trimmed price targets to $385, $450, $517, and $577 respectively.
1. Piper Sandler Revision
Piper Sandler lowered its price target for HubSpot to $400 from $590 and retained an Overweight rating, citing seat compression and vibe coding narratives that could cap software multiples. This revision was part of a broad review of the platforms and apps group.
2. Analyst Price Target Reductions
Several major firms cut their HubSpot targets over the past month: BMO slid its target from $465 to $385, UBS from $600 to $450, Goldman Sachs from $612 to $517, and Morgan Stanley from $640 to $577. These adjustments reflect broader sector pessimism around software valuations.
3. Sector Outlook and Valuation Pressure
Analysts warn that seat compression trends and skepticism over platform valuations are placing downward pressure on HubSpot’s potential multiple expansion. Hyperscaler, consumption, and vertical software sub-sectors are expected to fare better as investors remain cautious on cloud CRM platforms.