HubSpot (NYSE:HUBS) Releases Q2 Earnings Guidance

HubSpot (NYSE:HUBS) updated its second quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.62 to $1.64 for the period, compared to the consensus estimate of $1.57. The company issued revenue guidance of $617.0 million to $619.0 million, compared to the consensus revenue estimate of $622.99 million. HubSpot also updated its FY 2024 guidance to 7.300-7.380 EPS.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. William Blair reiterated an outperform rating on shares of HubSpot in a research report on Thursday, February 15th. UBS Group restated a neutral rating and issued a $525.00 price target on shares of HubSpot in a research report on Thursday, February 15th. Needham & Company LLC boosted their price target on shares of HubSpot from $630.00 to $730.00 and gave the company a buy rating in a research report on Thursday, February 15th. Royal Bank of Canada boosted their price target on shares of HubSpot from $625.00 to $700.00 and gave the company an outperform rating in a research report on Thursday, February 15th. Finally, Canaccord Genuity Group boosted their price target on shares of HubSpot from $700.00 to $750.00 and gave the company a buy rating in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $642.36.

HubSpot Trading Down 4.1 %

NYSE HUBS traded down $25.41 during trading on Wednesday, reaching $590.05. 1,106,380 shares of the stock traded hands, compared to its average volume of 501,709. The firm has a market cap of $30.04 billion, a price-to-earnings ratio of -168.39 and a beta of 1.57. The stock’s 50-day moving average price is $628.65 and its 200 day moving average price is $567.79. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.35. HubSpot has a fifty-two week low of $407.23 and a fifty-two week high of $693.85.

HubSpot (NYSE:HUBS) last released its quarterly earnings results on Wednesday, February 14th. The software maker reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.22. The company had revenue of $581.91 million during the quarter, compared to analysts’ expectations of $557.48 million. HubSpot had a negative net margin of 8.12% and a negative return on equity of 6.38%. Analysts predict that HubSpot will post -0.98 EPS for the current year.

Insider Activity

In other news, insider Brian Halligan sold 8,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $636.18, for a total value of $5,407,530.00. Following the completion of the transaction, the insider now owns 526,041 shares in the company, valued at $334,656,763.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Brian Halligan sold 8,500 shares of the stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $636.18, for a total transaction of $5,407,530.00. Following the completion of the transaction, the insider now owns 526,041 shares in the company, valued at $334,656,763.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Yamini Rangan sold 116 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $634.21, for a total transaction of $73,568.36. Following the sale, the chief executive officer now directly owns 88,861 shares in the company, valued at $56,356,534.81. The disclosure for this sale can be found here. Insiders sold 21,393 shares of company stock worth $13,421,401 over the last quarter. 4.90% of the stock is currently owned by company insiders.

About HubSpot

HubSpot, Inc, together with its subsidiaries, provides a cloud-based customer relationship management (CRM) platform for businesses in the Americas, Europe, and the Asia Pacific. The company's CRM platform includes Marketing Hub, a toolset for marketing automation and email, social media, SEO, and reporting and analytics; Sales Hub offers email templates and tracking, conversations and live chat, meeting and call scheduling, lead and website visit alerts, lead scoring, sales automation, pipeline management, quoting, forecasting, and reporting; Service Hub, a service software designed to help businesses manage, respond, and connect with customers; and Content Management Systems Hub enables businesses to create new and edit existing web content.