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

HubSpot, Inc. (NYSE:HUBS) – Analysts at Scotiabank boosted their FY2024 EPS estimates for shares of 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 previous estimate of ($0.05). Scotiabank 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.

Several other research firms have also weighed in on HUBS. Barclays lifted their price objective on shares of HubSpot from $500.00 to $650.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. BMO Capital Markets increased their price objective on shares of HubSpot from $570.00 to $690.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $730.00 target price on shares of HubSpot in a research report on Thursday, November 7th. Mizuho increased their price target on HubSpot from $725.00 to $775.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, Wells Fargo & Company raised their price objective on HubSpot from $750.00 to $810.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $714.05.

HubSpot Price Performance

NYSE HUBS opened at $703.23 on Monday. HubSpot has a one year low of $434.84 and a one year high of $762.47. The business has a 50 day simple moving average of $703.63 and a 200 day simple moving average of $581.86. The stock has a market capitalization of $36.30 billion, a P/E ratio of -2,604.46, a P/E/G ratio of 87.75 and a beta of 1.70.

HubSpot (NYSE:HUBS) last released its earnings results on Wednesday, November 6th. The software maker reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business earned ($0.04) earnings per share. HubSpot’s revenue for the quarter was up 20.1% on a year-over-year basis.

Institutional Investors Weigh In On HubSpot

Several institutional investors have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB purchased a new stake in HubSpot during the 3rd quarter worth about $25,000. HM Payson & Co. increased its position in shares of HubSpot by 36.0% during the third quarter. HM Payson & Co. now owns 68 shares of the software maker’s stock valued at $36,000 after buying an additional 18 shares during the period. Crewe Advisors LLC lifted its holdings in shares of HubSpot by 37.3% in the third quarter. Crewe Advisors LLC now owns 103 shares of the software maker’s stock worth $55,000 after buying an additional 28 shares in the last quarter. True Wealth Design LLC bought a new position in shares of HubSpot in the third quarter valued at approximately $62,000. Finally, Truvestments Capital LLC purchased a new position in HubSpot during the third quarter valued at approximately $76,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Insider Buying and Selling at HubSpot

In other news, CFO Kathryn Bueker sold 1,796 shares of HubSpot stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $701.59, for a total value of $1,260,055.64. Following the completion of the transaction, the chief financial officer now owns 38,560 shares in the company, valued at $27,053,310.40. This trade represents a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Yamini Rangan sold 115 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $713.79, for a total transaction of $82,085.85. Following the sale, the chief executive officer now owns 61,179 shares in the company, valued at $43,668,958.41. The trade was a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 78,066 shares of company stock worth $54,900,427 in the last quarter. 4.50% of the stock is currently owned by company 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.