Scotiabank Has Positive Outlook of HubSpot FY2024 Earnings

HubSpot, Inc. (NYSE:HUBS) – Equities research analysts at Scotiabank boosted their FY2024 EPS estimates for HubSpot in a research note issued on Wednesday, January 8th. Scotiabank analyst N. Altmann now expects that the software maker will post earnings per share of $0.39 for the year, up from their prior estimate of ($0.05). Scotiabank currently has a “Sector Outperform” rating and a $825.00 price objective on the stock. The consensus estimate for HubSpot’s current full-year earnings is $0.40 per share. Scotiabank also issued estimates for HubSpot’s FY2025 earnings at $0.83 EPS.

HubSpot (NYSE:HUBS) last released its quarterly earnings results on Wednesday, November 6th. The software maker reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.27. The business had revenue of $669.72 million during the quarter, compared to the consensus estimate of $646.97 million. HubSpot had a negative return on equity of 1.16% and a negative net margin of 0.56%. The company’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.04) EPS.

Several other brokerages also recently commented on HUBS. Piper Sandler downgraded shares of HubSpot from an “overweight” rating to a “neutral” rating and increased their target price for the company from $570.00 to $640.00 in a report on Thursday, November 7th. BMO Capital Markets increased their price objective on shares of HubSpot from $570.00 to $690.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Royal Bank of Canada lifted their target price on shares of HubSpot from $750.00 to $825.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Barclays upped their target price on HubSpot from $500.00 to $650.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Finally, The Goldman Sachs Group lifted their price target on HubSpot from $626.00 to $690.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $719.30.

HubSpot Trading Down 0.6 %

NYSE HUBS opened at $700.05 on Monday. The business has a fifty day simple moving average of $706.34 and a 200 day simple moving average of $582.66. HubSpot has a 12 month low of $434.84 and a 12 month high of $762.47. The firm has a market capitalization of $36.14 billion, a P/E ratio of -2,592.68, a PEG ratio of 87.75 and a beta of 1.70.

Insider Buying and Selling

In other news, insider Brian Halligan sold 8,500 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $661.59, for a total transaction of $5,623,515.00. Following the completion of the transaction, the insider now directly owns 513,698 shares in the company, valued at $339,857,459.82. The trade was a 1.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Dawson Alyssa Harvey sold 573 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $700.00, for a total value of $401,100.00. Following the completion of the sale, the insider now owns 7,603 shares in the company, valued at $5,322,100. This trade represents a 7.01 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,066 shares of company stock valued at $54,900,427. Company insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On HubSpot

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HUBS. Wilmington Savings Fund Society FSB purchased a new stake in shares of HubSpot during the 3rd quarter valued at $25,000. HM Payson & Co. increased its stake in HubSpot by 36.0% in the third quarter. HM Payson & Co. now owns 68 shares of the software maker’s stock valued at $36,000 after acquiring an additional 18 shares during the last quarter. Friedenthal Financial purchased a new stake in HubSpot during the fourth quarter valued at about $50,000. Crewe Advisors LLC increased its position in shares of HubSpot by 37.3% during the 3rd quarter. Crewe Advisors LLC now owns 103 shares of the software maker’s stock valued at $55,000 after purchasing an additional 28 shares during the last quarter. Finally, True Wealth Design LLC purchased a new position in shares of HubSpot during the 3rd quarter valued at about $62,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

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.