What happened Shares of HubSpot (NYSE: HUBS) rose this morning after an analyst reinstated coverage of the company with a buy rating. The news pushed HubSpot's share price up today, and the tech stock had gained 5.1% as of 11:33 a.m. EDT. So what Bank of America analyst Brad Sills put a $600 price target on HubSpot's stock and mentioned several reasons for his reinitiated coverage and his buy rating, including HubSpot's "formidable" competitive moat. Image source: Getty Images. Sills thinks that HubSpot will be successful in tapping into the company's nearly $87 billion total addressable market, and his enthusiasm for the stock boosted investor sentiment today. Today's positive investor note comes after the company put up impressive fourth-quarter and full-year 2020 results on Feb. 11. HubSpot's revenue increased 35% in the quarter to $252 million, and full-year sales jumped 31% to $883 million. HubSpot also grew its total customers by 42% in 2020, to 103,994, and surpassed $1 billion in annual recurring revenue. HubSpot's share price has performed very well over the past 12 months, rising 300% including this morning's gains. Now what Investors can likely expect more good news from HubSpot in the first quarter. Management has said that total revenue will be $265 million, at the high end of its guidance, which would represent a 33% year-over-year increase. But investors should be aware that tech stocks have experienced some volatility lately as investors have shifted some of their focus to sectors they believe will thrive postpandemic. This could cause some fluctuations in HubSpot's stock -- and in other tech stocks -- in the short term as investors try to figure out where they should put their money. 10 stocks we like better than HubSpotWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and HubSpot wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of February 24, 2021 Bank of America is an advertising partner of The Ascent, a Motley Fool company. Chris Neiger has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends HubSpot. The Motley Fool has a disclosure policy.Source