Scotiabank Comments on HubSpot’s FY2024 Earnings (NYSE:HUBS)

HubSpot, Inc. (NYSE:HUBS) – Scotiabank boosted their FY2024 earnings per share estimates for HubSpot in a report issued on Wednesday, January 8th. Scotiabank analyst N. Altmann now expects that the software maker will post earnings of $0.39 per share for the year, up from their prior forecast of ($0.05). Scotiabank currently has a “Sector Outperform” rating and a $825.00 target price 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 announced its quarterly earnings data on Wednesday, November 6th. The software maker reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.27. HubSpot had a negative net margin of 0.56% and a negative return on equity of 1.16%. The business had revenue of $669.72 million for the quarter, compared to analyst estimates of $646.97 million. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis.

Several other equities research analysts also recently issued reports on HUBS. Evercore ISI raised their target price on shares of HubSpot from $610.00 to $700.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. UBS Group raised HubSpot from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $730.00 price target on shares of HubSpot in a report on Thursday, November 7th. JPMorgan Chase & Co. increased their price objective on shares of HubSpot from $560.00 to $635.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, Piper Sandler downgraded shares of HubSpot from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $570.00 to $640.00 in a report on Thursday, November 7th. Four equities 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $719.30.

HubSpot Trading Down 0.6 %

Shares of HUBS opened at $700.05 on Monday. The company has a market cap of $36.14 billion, a price-to-earnings ratio of -2,592.68, a PEG ratio of 87.75 and a beta of 1.70. The company’s fifty day simple moving average is $706.34 and its 200 day simple moving average is $582.66. HubSpot has a 1-year low of $434.84 and a 1-year high of $762.47.

Insiders Place Their Bets

In other news, CEO Yamini Rangan sold 3,057 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $701.59, for a total transaction of $2,144,760.63. Following the completion of the transaction, the chief executive officer now directly owns 54,079 shares in the company, valued at approximately $37,941,285.61. This represents a 5.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kathryn Bueker sold 4,381 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $700.00, for a total value of $3,066,700.00. Following the sale, the chief financial officer now directly owns 41,259 shares in the company, valued at approximately $28,881,300. This trade represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 78,066 shares of company stock worth $54,900,427 over the last three months. Insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HUBS. Wilmington Savings Fund Society FSB bought a new stake in shares of HubSpot in the 3rd quarter valued at $25,000. HM Payson & Co. grew its stake in HubSpot by 36.0% during the third quarter. HM Payson & Co. now owns 68 shares of the software maker’s stock worth $36,000 after purchasing an additional 18 shares during the period. Friedenthal Financial acquired a new position in HubSpot in the fourth quarter valued at approximately $50,000. Crewe Advisors LLC grew 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 worth $55,000 after buying an additional 28 shares during the period. Finally, True Wealth Design LLC bought a new stake in shares of HubSpot in the 3rd quarter valued at $62,000. Institutional investors and hedge funds own 90.39% 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.