HubSpot Released a New Payment System and MGM Resorts Received an Analyst Upgrade
HubSpot is a technology company, and surprisingly they are located in Boston, Massachusetts instead of Silicon Valley. They provide a CRM platform for other businesses, like what Salesforce does, and they have a market cap of $35.643 billion.
On Tuesday, HubSpot announced that they rolled out a new payment system, entrenching them into the e-commerce game. They partnered with private company Stripe to develop the system, and it diversifies HubSpot’s business in the technology sector while also benefiting Stripe, who is looking to go public as they are one of the most valuable private companies now. HubSpot closed the day at $758.27, up 11.07% on the day.
MGM Resorts is a leisure company that operates casinos all throughout the United States and Macau. They are based in Las Vegas, Nevada, the capital of gambling, and they have a market cap of $23.463 billion.
On Tuesday, MGM received an analyst upgrade. Credit Suisse analyst Benjamin Chaiken upgraded MGM from neutral to outperform, and raised their price target from $33 to $68, which is almost a 50 percent premium to its current price. He believes that the business is transforming itself very well, citing MGM’s recent deal to acquire the Cosmopolitan Resort from Blackstone for $1.6 billion. MGM investors loved the news as the stock rose to $48.69, up 9.61% to finish the day.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.