HubSpot (NYSE:HUBS) Issues FY 2024 Earnings Guidance

HubSpot (NYSE:HUBS) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 7.300-7.380 for the period, compared to the consensus estimate of 6.970. The company issued revenue guidance of $2.6 billion-$2.6 billion, compared to the consensus revenue estimate of $2.6 billion. HubSpot also updated its FY24 guidance to $7.30 to $7.38 EPS.

Analysts Set New Price Targets

Several equities analysts recently issued reports on HUBS shares. Needham & Company LLC raised their price target on HubSpot from $630.00 to $730.00 and gave the stock a buy rating in a research report on Thursday, February 15th. Scotiabank boosted their target price 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. Truist Financial upped their price target on shares of HubSpot from $600.00 to $700.00 and gave the stock a buy rating in a research report on Thursday, February 15th. The Goldman Sachs Group raised 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. Finally, Stifel Nicolaus boosted their target price on HubSpot from $700.00 to $750.00 and gave the company a buy rating in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat, HubSpot currently has a consensus rating of Moderate Buy and a consensus price target of $642.36.

HubSpot Price Performance

NYSE HUBS traded down $25.41 on Wednesday, reaching $590.05. The company’s stock had a trading volume of 1,125,485 shares, compared to its average volume of 501,923. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.96 and a current ratio of 1.96. The stock has a market cap of $30.04 billion, a PE ratio of -168.39 and a beta of 1.57. HubSpot has a twelve month low of $407.23 and a twelve month high of $693.85. The firm’s 50 day moving average is $628.65 and its two-hundred day moving average is $567.79.

HubSpot (NYSE:HUBS) last announced its quarterly earnings data on Wednesday, February 14th. The software maker reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.22. HubSpot had a negative return on equity of 6.38% and a negative net margin of 8.12%. The firm had revenue of $581.91 million during the quarter, compared to the consensus estimate of $557.48 million. As a group, sell-side analysts predict that HubSpot will post -0.98 EPS for the current year.

Insider Transactions at HubSpot

In related news, insider Dawson Alyssa Harvey sold 1,086 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $618.25, for a total value of $671,419.50. Following the completion of the transaction, the insider now directly owns 7,783 shares of the company’s stock, valued at $4,811,839.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Brian Halligan sold 8,500 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 526,041 shares in the company, valued at $334,656,763.38. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Dawson Alyssa Harvey sold 1,086 shares of HubSpot stock in a transaction on Friday, February 16th. The stock was sold at an average price of $618.25, for a total transaction of $671,419.50. Following the sale, the insider now directly owns 7,783 shares of the company’s stock, valued at approximately $4,811,839.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,393 shares of company stock worth $13,421,401. Company 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.