HubSpot (NYSE:HUBS) Updates Q3 Earnings Guidance

HubSpot (NYSE:HUBS) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.89-1.91 for the period, compared to the consensus earnings per share estimate of $1.89. The company issued revenue guidance of $646-647 million, compared to the consensus revenue estimate of $646.48 million. HubSpot also updated its FY24 guidance to $7.64-7.70 EPS.

Wall Street Analyst Weigh In

HUBS has been the subject of a number of research analyst reports. UBS Group reduced their price target on shares of HubSpot from $640.00 to $580.00 and set a neutral rating for the company in a research note on Friday, July 12th. Needham & Company LLC reiterated a buy rating and set a $730.00 price target on shares of HubSpot in a research report on Thursday, May 9th. Mizuho cut their price objective on HubSpot from $700.00 to $650.00 and set a buy rating for the company in a report on Thursday, May 9th. Barclays cut their price target on shares of HubSpot from $600.00 to $575.00 and set an equal weight rating for the company in a report on Thursday, May 9th. Finally, Piper Sandler dropped their target price on shares of HubSpot from $655.00 to $570.00 and set an overweight rating on the stock in a report 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, HubSpot currently has an average rating of Moderate Buy and an average target price of $632.04.

HubSpot Stock Up 2.4 %

HUBS stock traded up $10.65 during trading hours on Wednesday, hitting $460.74. The company’s stock had a trading volume of 972,727 shares, compared to its average volume of 647,180. The stock has a 50 day moving average price of $545.19 and a two-hundred day moving average price of $592.64. HubSpot has a 12 month low of $407.23 and a 12 month high of $693.85. The company has a market capitalization of $23.48 billion, a PE ratio of -174.24 and a beta of 1.60. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.32.

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

Insider Transactions at HubSpot

In other HubSpot news, CEO Yamini Rangan sold 2,877 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was 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 of the company’s stock, valued at $40,332,333.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Brian Halligan sold 8,500 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $472.27, for a total transaction of $4,014,295.00. Following the completion of the transaction, the insider now owns 518,152 shares of the company’s stock, valued at approximately $244,707,645.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Yamini Rangan sold 2,877 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $592.80, for a total value of $1,705,485.60. Following the completion of the sale, the chief executive officer now directly owns 68,037 shares in the company, valued at approximately $40,332,333.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,875 shares of company stock worth $26,879,025. 4.50% of the stock is owned by corporate insiders.

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.