As previously reported, RBC Capital analyst Alex Zukin assumed coverage of HubSpot with a rating upgrade to Outperform from Sector Perform and a raised price target of $230 from $187. The analyst cites his expectation of a "durable" multi-year growth supported by more hubs and customers and ASRPC, along with a rapidly scaling secondary product suite and an "underpenetrated high growth" international opportunity. Zukin adds that his price target is based on the 10-times enterprise value to expected 2021 revenue multiple, which is in line with the "high efficiency" comp group.