What happened

Business software specialist HubSpot (HUBS -1.03%) wasn't looking very special mid-week. On Wednesday, the company came under fire as two analysts reduced their price targets on its stock. By the time the smoke cleared, HubSpot's share price was down by nearly 5%, a notably steeper fall than the S&P 500 index's 0.7% slide on the day.

So what

The two prognosticators' cuts were roughly similar. Morgan Stanley's Keith Weiss now feels HubSpot stock is worth $378 per share, down from his previous estimation of $405. His peer J. Derrick Wood at Cowen reduced his level to $390 from the preceding $415.

Neither analyst is willing to throw in the towel on HubSpot, though, as both have maintained their buy recommendations on the company.

This is due in part to the fact that major headwinds facing HubSpot are not of its making. In his latest analysis, Wood feels that the company will report a third quarter broadly in line with expectations. However, his research indicates that marketing budgets throughout HubSpot's customer base might have a deleterious effect on near-term fundamentals.

Now what

Also on Wednesday, HubSpot announced the date for the release of Q3 results. These will be divulged after market hours on Wednesday, Nov. 2.

Analysts like Weiss and Wood continue to believe that the specialty tech company will post top- and bottom-line growth. Collectively, they are modeling just over $425 billion for the period on the top line, which would mean a 25% year-over-year improvement. Meanwhile, per-share net profit is expected to rise incrementally, by 2% to $0.51.