HubSpot (NYSE:HUBS) Updates 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.

Analysts Set New Price Targets

Several analysts have commented on HUBS shares. Mizuho dropped their price objective on HubSpot from $700.00 to $650.00 and set a buy rating on the stock in a report on Thursday, May 9th. Oppenheimer lowered their target price on HubSpot from $725.00 to $625.00 and set an outperform rating on the stock in a report on Monday, July 22nd. Barclays cut their price target on HubSpot from $600.00 to $575.00 and set an equal weight rating for the company in a report on Thursday, May 9th. UBS Group lowered their price objective on HubSpot from $640.00 to $580.00 and set a neutral rating on the stock in a research note on Friday, July 12th. Finally, Piper Sandler cut their target price on HubSpot from $655.00 to $570.00 and set an overweight rating for the company in a research note on Friday, July 12th. One equities 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 stock. Based on data from MarketBeat, HubSpot presently has a consensus rating of Moderate Buy and an average price target of $632.04.

HubSpot Stock Performance

Shares of HUBS stock traded up $10.65 during midday trading on Wednesday, hitting $460.74. The company had a trading volume of 972,727 shares, compared to its average volume of 647,180. HubSpot has a 52-week low of $407.23 and a 52-week high of $693.85. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.07 and a quick ratio of 2.07. The company’s 50 day simple moving average is $545.19 and its 200 day simple moving average is $592.64. The stock has a market cap of $23.48 billion, a price-to-earnings ratio of -174.24 and a beta of 1.60.

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

Insider Buying and Selling at HubSpot

In other HubSpot news, CFO Kathryn Bueker sold 3,937 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $616.51, for a total transaction of $2,427,199.87. Following the completion of the sale, the chief financial officer now owns 45,737 shares of the company’s stock, valued at $28,197,317.87. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other HubSpot news, CEO Yamini Rangan sold 2,877 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $592.80, for a total transaction of $1,705,485.60. Following the completion of the sale, the chief executive officer now owns 68,037 shares in the company, valued at $40,332,333.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Kathryn Bueker sold 3,937 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $616.51, for a total value of $2,427,199.87. Following the completion of the sale, the chief financial officer now directly owns 45,737 shares in the company, valued at approximately $28,197,317.87. The disclosure for this sale can be found here. In the last three months, insiders sold 46,875 shares of company stock worth $26,879,025. Insiders own 4.50% 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.