Alphabet’s (GOOG) reported interest in HubSpot (HUBS) is yet another reminder that the provider of cloud-based customer relationship management platform is “an asset to own,” Macquarie Capital said in a note e-mailed Friday.
Reuters recently reported that the parent company of online search giant Google was considering a bid for HubSpot.
“The mere mention of interest (in HubSpot) should remind investors of the reasons we have been and continue to be long-term buyers of this high-quality, best-in-class asset,” Macquarie analysts, including Frederick Havemeyer, said.
With HubSpot’s current market cap likely at more than $33 billion, the “sheer size” of a potential deal is expected to warrant at least a second request from the US Department of Justice, the analysts said, citing sources familiar with regulatory norms.
HubSpot shares were up more than 3% in recent trading, while Alphabet was up 1.6%.