Scotiabank Has Bullish Estimate for HubSpot FY2024 Earnings

HubSpot, Inc. (NYSE:HUBS) – Research analysts at Scotiabank boosted their FY2024 earnings estimates for HubSpot in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst N. Altmann now anticipates that the software maker will post earnings per share of $0.39 for the year, up from their prior forecast 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.

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

HUBS has been the topic of several other research reports. Mizuho boosted their price objective on shares of HubSpot from $725.00 to $775.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Morgan Stanley raised their price objective on HubSpot from $747.00 to $835.00 and gave the stock an “overweight” rating in a research report on Monday. Barclays increased their target price on shares of HubSpot from $500.00 to $650.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Bank of America boosted their price target on shares of HubSpot from $780.00 to $850.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. lifted their target price on shares of HubSpot from $560.00 to $635.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Four 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. According to MarketBeat, HubSpot currently has an average rating of “Moderate Buy” and a consensus target price of $719.30.

HubSpot Price Performance

NYSE:HUBS opened at $702.78 on Monday. HubSpot has a one year low of $434.84 and a one year high of $762.47. The firm’s 50 day simple moving average is $708.82 and its 200 day simple moving average is $583.45. The company has a market cap of $36.28 billion, a PE ratio of -2,602.79, a P/E/G ratio of 87.75 and a beta of 1.70.

Hedge Funds Weigh In On HubSpot

A number of large investors have recently added to or reduced their stakes in HUBS. Wilmington Savings Fund Society FSB bought a new position in shares of HubSpot during the third quarter valued at about $25,000. HM Payson & Co. increased its stake in HubSpot by 36.0% in the 3rd 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 bought a new stake in HubSpot in the fourth quarter valued at approximately $50,000. Crewe Advisors LLC boosted its stake in shares of HubSpot by 37.3% during the third 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 period. Finally, True Wealth Design LLC bought a new position in shares of HubSpot in the third quarter worth approximately $62,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Insider Buying and Selling

In other news, insider Dawson Alyssa Harvey sold 573 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 7,603 shares in the company, valued at approximately $5,322,100. This represents a 7.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Yamini Rangan sold 115 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $713.79, for a total value of $82,085.85. Following the transaction, the chief executive officer now directly owns 61,179 shares in the company, valued at approximately $43,668,958.41. This represents a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,066 shares of company stock worth $54,900,427. Insiders own 4.50% 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.