HubSpot stock fell 1.4 percent as Raymond James cut its growth view

Published on 10/05/2026 at 15:27 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

HubSpot stock faces a fresh 2027 growth warning after Raymond James shifted to Market Perform on October 5, 2026. Q2 revenue reached USD 911.74 million, up 19.8 percent year over year.

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HubSpot stock (ISIN US4435731009) was last at USD 214.40 on the NYSE on October 2, 2026, down 1.40 percent on the session. TradingView identifies HUBS as HubSpot's NYSE listing and assigns the same ISIN. On October 5, 2026, Raymond James cut the stock to Market Perform from Outperform as analysts reassessed the company's 2027 growth outlook.

Raymond James cuts growth view

As Investing.com reported on October 5, 2026, Raymond James said low-double-digit growth appeared more realistic for the start of 2027 than the Street consensus of 14 percent. The downgrade puts the emphasis on customer acquisition and sales-cycle length rather than on HubSpot's long-term AI positioning.

The same report said HubSpot faces fluid demand conditions and possible packaging changes that could affect net new growth. That creates a direct tension between the company's expanding AI product range and the slower buying decisions described in its latest results.

Q2 revenue beats the estimate

HubSpot generated USD 911.74 million of Q2 2026 revenue, up 19.8 percent year over year, while adjusted earnings per share reached USD 3.26 against a USD 3.02 consensus estimate, according to MarketBeat. The USD 0.24 earnings beat and the revenue increase show that the latest concern is about the pace of future growth, not a current quarterly revenue decline.

Yahoo Finance reported from the August 5, 2026 earnings call that GAAP earnings per share were USD 0.86, GAAP operating margin was 5 percent and the company added 7,000 customers in the quarter. Total customers exceeded 306,000, while net revenue retention was 102 percent, down one percentage point year over year.

AI adoption meets slower buying

HubSpot's Q3 2026 guidance calls for revenue of USD 924 million to USD 925 million and a non-GAAP operating margin of 20 percent, while full-year revenue guidance stands at USD 3.678 billion to USD 3.686 billion, according to Yahoo Finance. Management also said Data Agent had more than 16,000 activated customers and Prospecting Agent had almost 17,000, giving the AI strategy measurable adoption while purchase approvals take longer.

Analyst target stays above the price

MarketBeat lists 15 Buy, 17 Hold and 2 Sell ratings from 34 analysts, producing a Hold consensus and an average price target of USD 270.61. The target lies 26.2 percent above the USD 214.40 price, so the market is weighing a substantial valuation gap against the slower 2027 growth view.

HubSpot stock stays below its yearly high

HubSpot stock was last at USD 214.40 on the NYSE on October 2, 2026 at 4:00 p.m. ET, versus a 52-week range of USD 169.63 to USD 503 and a market capitalization of USD 11.0 billion.