HubSpot: Large TAM With Visible Growth Catalysts

I give a buy rating for HubSpot, Inc. (NYSE: HUBS ) as I believe the business is in a strong position to continue growing attractively over the next two years. The shift to seat-based pricing and AII’m a fundamental, valuation-driven investor with a strong focus on identifying businesses that have the potential to scale over time and unlock massive terminal value. My investment approach centers around understanding the core economics of a business—its competitive moat, unit economics, reinvestment runway, a ...