HubSpot (NYSE:HUBS) Releases Q2 2024 Earnings Guidance

HubSpot (NYSE:HUBS) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 1.620-1.640 for the period, compared to the consensus estimate of 1.570. The company issued revenue guidance of $617.0 million-$619.0 million, compared to the consensus revenue estimate of $623.0 million. HubSpot also updated its FY 2024 guidance to 7.300-7.380 EPS.

Analyst Ratings Changes

HUBS has been the topic of several analyst reports. KeyCorp initiated coverage on shares of HubSpot in a research note on Thursday, March 21st. They issued an underweight rating and a $520.00 target price on the stock. Canaccord Genuity Group lifted their target price on HubSpot from $700.00 to $750.00 and gave the stock a buy rating in a report on Friday, April 5th. Barclays boosted their price target on HubSpot from $475.00 to $600.00 and gave the stock an equal weight rating in a research note on Wednesday, January 24th. Stifel Nicolaus increased their price objective on HubSpot from $700.00 to $750.00 and gave the company a buy rating in a research report on Monday, April 8th. Finally, JPMorgan Chase & Co. raised their price target on shares of HubSpot from $530.00 to $630.00 and gave the company an overweight rating in a report on Thursday, February 15th. One investment 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 data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $642.36.

HubSpot Price Performance

Shares of HUBS stock traded down $25.41 on Wednesday, hitting $590.05. 1,125,485 shares of the stock traded hands, compared to its average volume of 501,923. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.96 and a quick ratio of 1.96. HubSpot has a 52 week low of $407.23 and a 52 week high of $693.85. The firm has a 50 day simple moving average of $628.65 and a two-hundred day simple moving average of $567.79. The firm has a market cap of $30.04 billion, a price-to-earnings ratio of -168.39 and a beta of 1.57.

HubSpot (NYSE:HUBS) last posted its quarterly earnings results on Wednesday, February 14th. The software maker reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.22. The business had revenue of $581.91 million for the quarter, compared to analysts’ expectations of $557.48 million. HubSpot had a negative return on equity of 6.38% and a negative net margin of 8.12%. As a group, equities research analysts predict that HubSpot will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling at HubSpot

In other HubSpot news, CEO Yamini Rangan sold 116 shares of HubSpot stock in a transaction on Monday, March 4th. The shares were sold at an average price of $634.21, for a total value of $73,568.36. Following the sale, the chief executive officer now directly owns 88,861 shares in the company, valued at approximately $56,356,534.81. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other HubSpot news, CEO Yamini Rangan sold 116 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $634.21, for a total transaction of $73,568.36. Following the completion of the transaction, the chief executive officer now owns 88,861 shares in the company, valued at approximately $56,356,534.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian Halligan sold 8,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $636.18, for a total value of $5,407,530.00. Following the sale, the insider now directly owns 526,041 shares in the company, valued at $334,656,763.38. The disclosure for this sale can be found here. Insiders sold a total of 21,393 shares of company stock valued at $13,421,401 in the last three months. 4.90% of the stock is currently owned by corporate 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.