HubSpot Stock Crashes 19% After AI Pricing Pivot — BofA Downgrades to Underperform, Stock Down 51% YTD

Boston Globe·high signal

HubSpot shares crashed 19% on May 8 after announcing outcome-based pricing cuts for Breeze AI agents ($0.50/resolved conversation, down from $1.00) and admitting Q2 sales 'got off to a slow start' after pulling reps into AI training. BofA downgraded to Underperform and slashed its price target from $300 to $180, cutting FY2026 revenue estimates by $18M. The stock hit a 52-week low at $180.50, down 51% YTD — the clearest bellwether yet of what happens when a SaaS incumbent actually tries to transition to AI-native pricing mid-flight.