HubSpot (NYSE:HUBS) Issues FY24 Earnings Guidance

HubSpot (NYSE:HUBS) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $7.98-$8.00 for the period, compared to the consensus EPS estimate of $7.72. The company issued revenue guidance of $2.597-$2.599 billion, compared to the consensus revenue estimate of $2.57 billion. HubSpot also updated its FY 2024 guidance to 7.980-8.000 EPS.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Truist Financial reiterated a “buy” rating and set a $750.00 price target (up from $600.00) on shares of HubSpot in a research report on Friday. UBS Group lifted their target price on HubSpot from $550.00 to $650.00 and gave the stock a “neutral” rating in a report on Thursday. BMO Capital Markets upped their price target on shares of HubSpot from $570.00 to $690.00 and gave the company an “outperform” rating in a report on Thursday. Wells Fargo & Company lifted their price objective on shares of HubSpot from $625.00 to $750.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Royal Bank of Canada increased their target price on shares of HubSpot from $700.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $660.96.

HubSpot Trading Up 1.9 %

HUBS stock traded up $12.07 during midday trading on Friday, reaching $656.68. The company had a trading volume of 946,983 shares, compared to its average volume of 593,695. HubSpot has a 1 year low of $413.07 and a 1 year high of $693.85. The company has a market capitalization of $33.72 billion, a P/E ratio of -1,216.05, a PEG ratio of 7,506.16 and a beta of 1.63. The company has a 50 day moving average of $535.45 and a two-hundred day moving average of $546.83.

HubSpot (NYSE:HUBS) last issued its earnings results on Wednesday, August 7th. The software maker reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.30. The company had revenue of $637.20 million for the quarter, compared to analyst estimates of $619.28 million. HubSpot had a negative return on equity of 2.33% and a negative net margin of 1.15%. The business’s revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.17) EPS.

Insider Activity at HubSpot

In other HubSpot news, CEO Yamini Rangan sold 116 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $491.19, for a total value of $56,978.04. Following the completion of the sale, the chief executive officer now owns 67,203 shares of the company’s stock, valued at $33,009,441.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Kathryn Bueker sold 1,804 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $550.00, for a total transaction of $992,200.00. Following the completion of the sale, the chief financial officer now owns 41,259 shares in the company, valued at $22,692,450. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Yamini Rangan sold 116 shares of HubSpot stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $491.19, for a total value of $56,978.04. Following the completion of the transaction, the chief executive officer now directly owns 67,203 shares in the company, valued at approximately $33,009,441.57. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,937 shares of company stock valued at $3,194,673. 4.50% 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.