HubSpot (NYSE:HUBS) Issues Q2 2024 Earnings Guidance

HubSpot (NYSE:HUBS) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 1.620-1.640 for the period, compared to the consensus EPS 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.

HubSpot Stock Performance

Shares of NYSE:HUBS traded down $25.41 during trading on Wednesday, hitting $590.05. 1,125,485 shares of the company traded hands, compared to its average volume of 501,923. The stock has a market capitalization of $30.04 billion, a price-to-earnings ratio of -168.39 and a beta of 1.57. HubSpot has a one year low of $407.23 and a one year 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. The business’s fifty day moving average is $628.65 and its 200-day moving average is $567.79.

HubSpot (NYSE:HUBS) last posted its earnings results on Wednesday, February 14th. The software maker reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $581.91 million for the quarter, compared to analysts’ expectations of $557.48 million. As a group, equities analysts predict that HubSpot will post -0.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. BMO Capital Markets boosted 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. Piper Sandler reiterated an overweight rating and set a $675.00 price target on shares of HubSpot in a research report on Friday, April 5th. Scotiabank raised their price target on HubSpot from $650.00 to $700.00 and gave the company a sector outperform rating in a report on Friday, April 5th. William Blair reaffirmed an outperform rating on shares of HubSpot in a report on Thursday, February 15th. Finally, JPMorgan Chase & Co. raised their target price on shares of HubSpot from $530.00 to $630.00 and gave the company an overweight rating in a research note on Thursday, February 15th. One 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. Based on data from MarketBeat, HubSpot has a consensus rating of Moderate Buy and an average target price of $642.36.

Insider Buying and Selling

In other HubSpot news, CEO Yamini Rangan sold 116 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $634.21, for a total value of $73,568.36. Following the transaction, the chief executive officer now owns 88,861 shares in the company, valued at $56,356,534.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Brian Halligan sold 8,500 shares of HubSpot 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 completion of the sale, 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 document filed with the SEC, which can be accessed through the SEC website. Also, CEO Yamini Rangan sold 116 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was 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 directly owns 88,861 shares of the company’s stock, valued at approximately $56,356,534.81. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,393 shares of company stock worth $13,421,401. Corporate insiders own 4.90% of the company’s stock.

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.