HubSpot (NYSE:HUBS) Releases FY24 Earnings Guidance

HubSpot (NYSE:HUBS) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $7.30 to $7.38 for the period, compared to the consensus estimate of $6.97. The company issued revenue guidance of $2.55 billion to $2.56 billion, compared to the consensus revenue estimate of $2.56 billion. HubSpot also updated its FY 2024 guidance to 7.300-7.380 EPS.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HUBS. Truist Financial increased their target price on shares of HubSpot from $600.00 to $700.00 and gave the stock a buy rating in a research note on Thursday, February 15th. Scotiabank raised their price objective on shares of HubSpot from $650.00 to $700.00 and gave the company a sector outperform rating in a research note on Friday, April 5th. Needham & Company LLC raised their price objective on shares of HubSpot from $630.00 to $730.00 and gave the company a buy rating in a research note on Thursday, February 15th. KeyCorp began coverage on shares of HubSpot in a research note on Thursday, March 21st. They issued an underweight rating and a $520.00 price objective on the stock. Finally, The Goldman Sachs Group increased their target price on shares of HubSpot from $577.00 to $656.00 and gave the company a buy rating in a report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $642.36.

HubSpot Price Performance

NYSE:HUBS traded down $25.41 during mid-day trading on Wednesday, hitting $590.05. 1,106,380 shares of the stock traded hands, compared to its average volume of 501,709. The business’s 50-day moving average price is $628.65 and its 200 day moving average price is $567.79. The company has a market cap of $30.04 billion, a PE ratio of -168.39 and a beta of 1.57. HubSpot has a 12-month low of $407.23 and a 12-month high of $693.85. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.35.

HubSpot (NYSE:HUBS) last issued its quarterly earnings data on Wednesday, February 14th. The software maker reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.22. The company had revenue of $581.91 million during the quarter, compared to analysts’ expectations of $557.48 million. HubSpot had a negative net margin of 8.12% and a negative return on equity of 6.38%. On average, analysts expect that HubSpot will post -0.98 EPS for the current fiscal year.

Insiders Place Their Bets

In other HubSpot news, insider Brian Halligan sold 8,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $636.18, for a total value of $5,407,530.00. Following the completion of the transaction, the insider now owns 526,041 shares of the company’s stock, valued at approximately $334,656,763.38. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Yamini Rangan sold 116 shares of the company’s 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 completion of the sale, the chief executive officer now owns 88,861 shares of the company’s stock, valued at approximately $56,356,534.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian Halligan sold 8,500 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $636.18, for a total transaction of $5,407,530.00. Following the completion of the sale, the insider now directly owns 526,041 shares of the company’s stock, valued at approximately $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 quarter. Corporate insiders own 4.90% 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.