HubSpot (NYSE:HUBS) Releases FY24 Earnings Guidance

HubSpot (NYSE:HUBS) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $7.30 to $7.38 for the period, compared to the consensus EPS 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.

HubSpot Stock Performance

Shares of NYSE HUBS traded down $25.41 during midday trading on Wednesday, reaching $590.05. 1,106,380 shares of the stock were exchanged, compared to its average volume of 501,709. 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 has a twelve month low of $407.23 and a twelve month 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 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, topping 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 net margin of 8.12% and a negative return on equity of 6.38%. As a group, analysts anticipate that HubSpot will post -0.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

HUBS has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their target price on HubSpot from $625.00 to $700.00 and gave the company an outperform rating in a research report on Thursday, February 15th. Piper Sandler restated an overweight rating and issued a $675.00 price objective on shares of HubSpot in a report on Friday, April 5th. Needham & Company LLC raised their price objective on HubSpot from $630.00 to $730.00 and gave the company a buy rating in a report on Thursday, February 15th. Canaccord Genuity Group lifted their price target on HubSpot from $700.00 to $750.00 and gave the stock a buy rating in a report on Friday, April 5th. Finally, BMO Capital Markets raised their price objective on HubSpot from $540.00 to $710.00 and gave the stock an outperform rating in a research report on Monday, February 12th. One investment 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. According to data from MarketBeat, HubSpot presently has a consensus rating of Moderate Buy and a consensus price target of $642.36.

Insider Buying and Selling at HubSpot

In other news, insider Brian Halligan sold 8,500 shares of the company’s stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Yamini Rangan sold 8,817 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $620.00, for a total transaction of $5,466,540.00. Following the sale, the chief executive officer now owns 88,977 shares of the company’s stock, valued at $55,165,740. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Brian Halligan sold 8,500 shares of the stock in a transaction 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 sale, the insider now directly owns 526,041 shares in the company, valued at approximately $334,656,763.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,393 shares of company stock valued at $13,421,401. 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.