NEW YORK (TheStreet) -- Shares of HubSpot Inc. (HUBS) are up 0.98% to $35.98 in pre-market trading today after Pacific Crest initiated coverage of the company with an "outperform" rating and a price target of $40.
The Internet marketing software company is "bringing marketing innovations to the small and medium-sized business (SMB) market," Pacific Crest analyst Brendan Barnicle said.
"As the leading marketing automation vendor for the SMB market, HubSpot has a $25 billion total addressable market and multiple years of high-growth potential," Barnicle said, adding, "With the prospect of 30%+ growth over the next several years, we believe HubSpot warrants a premium valuation."
HUBS data by YCharts 
