HubSpot (NYSE:HUBS) Releases FY24 Earnings Guidance

HubSpot (NYSE:HUBS) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $7.64-7.70 for the period, compared to the consensus earnings per share estimate of $7.35. The company issued revenue guidance of $2.567-2.573 billion, compared to the consensus revenue estimate of $2.56 billion. HubSpot also updated its Q3 guidance to $1.89-1.91 EPS.

HubSpot Price Performance

HUBS traded up $10.65 during midday trading on Wednesday, hitting $460.74. The stock had a trading volume of 972,727 shares, compared to its average volume of 647,180. HubSpot has a 1 year low of $407.23 and a 1 year high of $693.85. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.07 and a current ratio of 2.07. The business has a fifty day moving average of $545.19 and a 200 day moving average of $592.64. The company has a market cap of $23.48 billion, a P/E ratio of -174.24 and a beta of 1.60.

HubSpot (NYSE:HUBS) last announced its quarterly earnings data on Wednesday, May 8th. The software maker reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.27. The company had revenue of $617.41 million during the quarter, compared to analysts’ expectations of $597.12 million. HubSpot had a negative net margin of 5.78% and a negative return on equity of 4.94%. As a group, equities analysts forecast that HubSpot will post -0.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on HUBS shares. BMO Capital Markets reduced their price objective on HubSpot from $710.00 to $635.00 and set an outperform rating on the stock in a research note on Thursday, May 9th. Needham & Company LLC reaffirmed a buy rating and issued a $730.00 price target on shares of HubSpot in a research note on Thursday, May 9th. Piper Sandler dropped their price objective on HubSpot from $655.00 to $570.00 and set an overweight rating for the company in a research note on Friday, July 12th. Wells Fargo & Company decreased their target price on shares of HubSpot from $750.00 to $650.00 and set an overweight rating on the stock in a research note on Thursday, July 11th. Finally, Canaccord Genuity Group dropped their price target on shares of HubSpot from $750.00 to $700.00 and set a buy rating for the company in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $632.04.

Insider Activity

In other news, insider Dawson Alyssa Harvey sold 192 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $650.00, for a total value of $124,800.00. Following the transaction, the insider now owns 10,860 shares in the company, valued at $7,059,000. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Brian Halligan sold 8,500 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $472.27, for a total value of $4,014,295.00. Following the transaction, the insider now directly owns 518,152 shares in the company, valued at approximately $244,707,645.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Dawson Alyssa Harvey sold 192 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $650.00, for a total value of $124,800.00. Following the sale, the insider now owns 10,860 shares of the company’s stock, valued at $7,059,000. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,875 shares of company stock worth $26,879,025. Insiders own 4.50% of the company’s stock.

HubSpot Company Profile

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.