HubSpot shows strong growth and margins despite AI fears, trading at a discount with upside potential.

HubSpot (HUBS) is currently trading at a discounted valuation of about 3.1 times forward revenue amid concerns that AI could disrupt its business. Despite these fears, the company reported a solid 20.4% year-over-year revenue growth in Q4 and maintains strong gross margins around 85%, indicating operational strength. HubSpot's multi-product adoption is increasing, with 28% of its annual recurring revenue (ARR) for Q2 2025 coming from customers using five or more products, which helps reduce the risk of AI replacing its offerings. If HubSpot continues to grow above 20% and delivers consistent positive earnings surprises, it could offer significant upside for investors.