HubSpot Analysts Boost Their Forecasts After Q1 Results
Portfolio Pulse from Avi Kapoor
HubSpot, Inc. (NYSE:HUBS) exceeded Q1 earnings and sales forecasts but provided lower-than-expected revenue guidance for Q2. Despite a challenging macro environment, CEO Yamini Rangan highlighted the company's solid growth and innovation in AI. Analysts from Piper Sandler, Mizuho, and Needham adjusted their price targets following the earnings announcement. HubSpot's shares dropped 4.1% after the report.
May 09, 2024 | 12:04 pm
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HubSpot surpassed Q1 earnings and revenue estimates but projected lower Q2 revenue, leading to a 4.1% drop in share price. Analysts adjusted price targets in response.
The immediate negative reaction in HubSpot's stock price (-4.1%) post-earnings reflects investor concern over the soft Q2 revenue guidance, despite beating Q1 expectations. Analysts' adjustments in price targets further emphasize the mixed sentiment, potentially leading to short-term volatility.
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