HubSpot (NYSE:HUBS) Updates FY24 Earnings Guidance

HubSpot (NYSE:HUBS) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $7.98-$8.00 for the period, compared to the consensus earnings per share estimate of $7.72. The company issued revenue guidance of $2.597-$2.599 billion, compared to the consensus revenue estimate of $2.57 billion. HubSpot also updated its FY 2024 guidance to 7.980-8.000 EPS.

HubSpot Trading Up 1.9 %

Shares of NYSE HUBS traded up $11.95 during trading hours on Friday, reaching $656.56. The stock had a trading volume of 947,094 shares, compared to its average volume of 380,530. The firm has a 50-day moving average of $535.45 and a 200-day moving average of $546.83. The firm has a market cap of $33.71 billion, a price-to-earnings ratio of -2,432.06, a PEG ratio of 7,948.12 and a beta of 1.63. HubSpot has a fifty-two week low of $413.07 and a fifty-two week high of $693.85.

HubSpot (NYSE:HUBS) last posted its quarterly earnings data on Wednesday, August 7th. The software maker reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.30. The business had revenue of $637.20 million during the quarter, compared to the consensus estimate of $619.28 million. HubSpot had a negative return on equity of 1.22% and a negative net margin of 0.56%. The company’s revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.17) earnings per share.

Analyst Upgrades and Downgrades

HUBS has been the subject of several recent research reports. Canaccord Genuity Group increased their target price on shares of HubSpot from $600.00 to $710.00 and gave the stock a “buy” rating in a research note on Thursday. Bank of America decreased their price objective on HubSpot from $650.00 to $580.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Evercore ISI boosted their target price on HubSpot from $610.00 to $700.00 and gave the company an “in-line” rating in a report on Thursday. Stifel Nicolaus upped their price target on HubSpot from $600.00 to $625.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, Raymond James decreased their price target on HubSpot from $725.00 to $675.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $660.96.

Insider Transactions at HubSpot

In other HubSpot news, CFO Kathryn Bueker sold 1,804 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $550.00, for a total value of $992,200.00. Following the sale, the chief financial officer now owns 41,259 shares of the company’s stock, valued at $22,692,450. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other HubSpot news, CFO Kathryn Bueker sold 1,804 shares of the firm’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $550.00, for a total transaction of $992,200.00. Following the completion of the transaction, the chief financial officer now owns 41,259 shares of the company’s stock, valued at approximately $22,692,450. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Yamini Rangan sold 1,507 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $525.84, for a total value of $792,440.88. Following the completion of the sale, the chief executive officer now owns 62,668 shares in the company, valued at $32,953,341.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,937 shares of company stock valued at $3,194,673 in the last 90 days. 4.50% of the stock is currently owned by 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.