FINWIRES · TerminalLIVE
FINWIRES

Research Alert: CFRA Maintains Buy Rating On Shares Of Hubspot, Inc.

By

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lower our target price to $221, from $310, on an EV/S multiple of 2.3x our 2027 sales projection of $4.289B, below its three-year average. We increase our 2026 EPS estimate to $13.11 from $12.47 and raise our 2027 EPS view to $15.58 from $15.07. HUBS reported solid Q1 results with subscription revenue growing 23% Y/Y, driven by strong upmarket momentum as deals over $60K ARR grew 37% and deals over $120K ARR surged 64%. Multi-hub adoption continued, while AI monetization was encouraging as active core seat users grew 90% Y/Y with over 25% of Pro+ customers purchasing additional core seats (up 12+ points). Non-GAAP operating margin expanded significantly to 17.8%, up 4 points Y/Y, and HUBS raised its full-year 2026 operating margin guidance to 21% (+100 bps). While pricing/GTM changes creates uncertainty and led to lighter guidance, we expect headwinds to be transitory as demand for its core platform and AI tools showed strength.

Related Articles

Research

Research Alert: Steris Closes Fiscal 2026 With Solid Growth And Initiates Fy 27 Guidance

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Steris delivered solid Q4 results with revenue of $1.588B (+7.3% Y/Y), slightly below consensus of $1.595B, while adjusted EPS of $2.83 (+3.3% Y/Y) slightly beat estimates by $0.02. The company's diversified infection prevention platform showed resilience with recurring revenue (consumables and service) growing 8.3% Y/Y to $1.201B, representing 76% of quarterly revenue. This recurring revenue quality remains a key differentiator in health care equipment, providing predictable cash flows and customer stickiness, in our view. Management provided FY 27 guidance of 7%-8% Y/Y revenue growth and adjusted EPS of $11.10-$11.30, representing solid 9%-11% Y/Y growth amid a challenging operating environment. Strong free cash flow generation supports the new $1B share repurchase authorization, reflecting management's confidence. With total backlog of $490.7M (+8.3%) and 79% recurring revenue base, we think Steris can capitalize on continued procedure volume recovery and infection prevention market expansion.

$STE
Research

Research Alert: CFRA Keeps Hold Opinion On Shares Of Canadian National Railway Company

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our 12-month target by $9 to $117, on 20x our 2026 EPS view of $5.75 (CAD7.85, using the May 11, 2026 spot rate; up from CAD7.64) and 18.5x our 2027 EPS of $6.34 (CAD8.65, up from CAD8.45), vs. the shares' one-year average forward multiple of 18x and a peer average of 22.6x. We see revenue growth of 3% in 2026, with a rise of 4% in 2027. Q1 2026 results were mixed. Total revenues were -1% to CAD4,379M as a record Q1 RTM level of 61,834M (+3% volume) was more than offset by freight revenue per RTM (-3%). The yield pressure was primarily due to the negative translation impact of a stronger Canadian dollar and the elimination of the Canadian federal carbon tax program on April 1, 2025, which collectively overshadowed benefits from freight rate increases and higher fuel surcharge rates. On a constant currency basis, revenues would have grown 2%, demonstrating underlying business momentum. We expect some of these pressures to ease as the year progresses. We currently view the shares as fairly valued.

$CNI
Research

Research Alert: Simon Property Group Q1: Solid Beat On Revenue, Management Raises Ffo Guidance

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:SPG reported Q1 2026 revenue of $1.76B, up 19.3% Y/Y from $1.47B, with leasing income of $1.63B rising 19.1% Y/Y and beating consensus by $121M. The strong beat indicates 2026 will likely sustain leasing momentum as Q1 is typically a weaker quarter seasonally, in our view. Domestic property NOI increased 6.7% Y/Y while portfolio NOI was up 6.7% Y/Y in Q1, demonstrating broad-based operational strength across the portfolio. Retailer sales per square foot reached $819 in the trailing 12 months ended Q1 2026, up 11.8% Y/Y from $733 in the prior-year period, reflecting improved tenant productivity. Base minimum rent per square foot reached $61.99, representing 5.2% growth from $58.92 at March 31, 2025. The combination of strong leasing performance and improving retailer productivity metrics supports continued rental growth momentum throughout 2026. We believe the sustained improvement in both occupancy metrics and retailer sales productivity positions SPG well for continued outperformance.

$SPG