HubSpot Analysts Increase Their Forecasts Following Upbeat Results
Portfolio Pulse from Avi Kapoor
HubSpot, Inc. (NYSE:HUBS) reported higher-than-expected Q4 earnings and sales, and provided strong FY24 guidance. Earnings per share were $1.76, surpassing estimates of $1.54. Sales reached $581.91 million, exceeding expectations of $558.27 million. The company forecasts Q1 earnings of $1.48 to $1.50 per share and FY24 earnings of $6.86 to $6.94 per share, with revenue projections of $2.55 to $2.56 billion. Following the announcement, HubSpot shares rose by 4.3%. Analysts from Piper Sandler and Needham raised their price targets for HubSpot to $675 and $730, respectively.
February 15, 2024 | 12:47 pm
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POSITIVE IMPACT
HubSpot reported higher-than-expected Q4 earnings and sales, with strong FY24 guidance. Shares rose by 4.3% following the announcement. Analysts from Piper Sandler and Needham raised their price targets to $675 and $730, respectively.
The positive earnings report and upward revision of FY24 guidance indicate strong financial health and growth prospects for HubSpot, leading to a positive short-term impact on its stock price. The increase in share price and raised price targets by analysts further support this positive outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100