HubSpot, Inc. (NASDAQ:HUBS) shares are trading lower Friday after the company reported first-quarter financial results and issued second-quarter revenue guidance below estimates on Thursday after the market closed. Multiple firms lowered their respective price targets on the stock.

• HubSpot stock is testing key support levels. What’s behind HUBS weakness?

Q1 Highlights

HubSpot posted adjusted earnings per share of $2.72, beating the consensus estimate of $2.47. In addition, it posted revenue of $880.99 million, beating the consensus estimate of $863.29 million.

Subscription revenue totaled $862.3 million in the quarter, up 23% year-over-year. Professional services revenue came in at $18.7 million, up 22% year-over-year.

The company said customer count increased 16% year-over-year to 299,458 at the end of the first quarter. Average subscription revenue per customer rose 6% year-over-year to $11,722.

Calculated billings were $912.3 million in the first quarter of 2026, up 19% on an as-reported basis and 17% in constant currency compared to the prior-year period.

HubSpot also repurchased $211 million in shares during the quarter. The company said $789 million remains available under its current share repurchase authorization.

As of March 31, HubSpot reported cash and cash equivalents, short-term investments and long-term investments totaling $1.8 billion.

Guidance

HubSpot sees second-quarter adjusted earnings per share of between $3.00 and $3.02, versus the consensus estimate of $2.86. Furthermore, it expects revenue of between $897.00 million and $898.00 million, versus the consensus estimate of $899.20 million.

Hubspot raised its fiscal-year 2026 adjusted earnings per share guidance from between $12.38 and $12.46 to between $13.04 and $13.12, versus the consensus estimate of $12.45. It also raised its fiscal-year revenue guidance from between $3.69 billion and $3.70 billion to between $3.70 billion and $3.708 billion, versus the consensus estimate of $3.69 billion.

Analyst Consensus & Recent Actions

The stock carries a Hold rating with an average price target of $3.80. Recent analyst moves include:

• Piper Sandler analyst Billy Fitzsimmons maintained an Overweight rating on HubSpot and lowered the price target from $260 to $250.
• B of A Securities analyst Matt Bullock downgraded HubSpot from a Buy rating to an Underperform rating and lowered the price target from $300 to $180.
• Morgan Stanley analyst Elizabeth Porter maintained an Overweight rating on HubSpot and lowered the price target from $405 to $350.

Short-Term Strength Clashes With Bearish Long-Term Trend

From a trend perspective, Opendoor is trying to rebuild upside momentum after April's swing high and swing low carved out a choppier pivot zone. The stock is trading 2.8% above its 20-day SMA ($5.20) and 5.6% above its 50-day SMA ($5.06), but it remains 1.3% below its 100-day SMA ($5.41) and 7.9% below its 200-day SMA ($5.80), which keeps the longer-term ceiling in view.

RSI is the cleaner momentum read right now, sitting at 53.37, which points to neutral momentum rather than an overbought or oversold stretch. In plain terms, RSI helps gauge whether recent buying or selling has become "too extended," and this level suggests the stock still has room to move either way without being technically crowded.

The moving-average structure is mixed: the 20-day SMA is above the 50-day SMA (a near-term bullish alignment), but the death cross from March (50-day SMA below the 200-day SMA) is still a longer-term caution flag. That combination often produces range trading where rallies can work, but they tend to face supply as price approaches longer-term averages.

• Key Resistance: $5.50 — a nearby round-number area that can act as a stall point as price works back toward the 100-day zone
• Key Support: $4.50 — a nearby floor where buyers previously stepped in, and a break below would put the recent rebound structure at risk

HubsSpot Shares Fall

HUBS Price Action: HubSpot shares were down 23.89% at $185.50 during premarket trading Friday, according to Benzinga Pro. Over the past month, HubSpot has declined about 21.2% versus 8.2% rise in the S&P 500 and is down roughly 53% year-to-date compared to the index’s 6.7% gain.

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