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

A number of equities research analysts have recently issued reports on HUBS shares. Truist Financial upped their target price on shares of HubSpot from $600.00 to $700.00 and gave the company a buy rating in a report on Thursday, February 15th. Evercore ISI raised their price target on shares of HubSpot from $625.00 to $650.00 and gave the company an in-line rating in a research note on Thursday, February 15th. Piper Sandler reaffirmed an overweight rating and issued a $675.00 price target on shares of HubSpot in a research note on Friday, April 5th. Wells Fargo & Company lifted their price target on shares of HubSpot from $700.00 to $725.00 and gave the company an overweight rating in a research note on Thursday, February 15th. Finally, BMO Capital Markets lifted their price objective on shares of HubSpot from $540.00 to $710.00 and gave the company an outperform rating in a report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $642.36.

HubSpot Price Performance

Shares of HubSpot stock traded down $25.41 on Wednesday, hitting $590.05. 1,106,380 shares of the company traded hands, compared to its average volume of 501,709. The firm’s 50-day simple moving average is $628.65 and its 200 day simple moving average is $567.79. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.35. The company has a market cap of $30.04 billion, a P/E ratio of -168.39 and a beta of 1.57. HubSpot has a 12-month low of $407.23 and a 12-month high of $693.85.

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

Insiders Place Their Bets

In other news, insider Brian Halligan sold 8,500 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 526,041 shares of the company’s stock, valued at approximately $334,656,763.38. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Yamini Rangan sold 2,874 shares of HubSpot stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $627.12, for a total transaction of $1,802,342.88. Following the completion of the transaction, the chief executive officer now directly owns 74,784 shares of the company’s stock, valued at approximately $46,898,542.08. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Brian Halligan sold 8,500 shares of HubSpot stock in a transaction dated 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 transaction, the insider now directly owns 526,041 shares of the company’s stock, valued at $334,656,763.38. The disclosure for this sale can be found here. Insiders have sold a total of 21,393 shares of company stock valued at $13,421,401 in the last quarter. Insiders own 4.90% of the company’s stock.

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.