What's Going On With HubSpot Stock?

Adobe Systems Incorporated -1.63%
salesforce.com, inc. -2.25%
HubSpot, Inc. -0.79%
Intuit Inc. -8.35%
SAP SE Sponsored ADR +0.18%

Adobe Systems Incorporated

ADBE

475.43

-1.63%

salesforce.com, inc.

CRM

272.29

-2.25%

HubSpot, Inc.

HUBS

590.16

-0.79%

Intuit Inc.

INTU

606.99

-8.35%

SAP SE Sponsored ADR

SAP

195.38

+0.18%

HubSpot, Inc. (NYSE:HUBS) shares are trading higher on Tuesday.

The stock returned 13.4% over the last one month to $621.01, outpacing the broader S&P 500’s return of just 3.72%, and 5.8% for NASDAQ.  

The software giant said it will report its fourth quarter and full year 2023 financial results after the financial markets close on Wednesday, February 14, 2024.

The street view for the fourth quarter earnings per share stands at $1.54.

Last week, Barclay’s analyst Ryan Macwilliams reiterated an Equal-Weight rating on the stock, raising the price target to $600 from $475.

Also Read: Why This HubSpot Analyst Believes 2024 Estimates Are ‘Too Low’

Earlier this month, the company launched its new pricing model for all subscription tiers, including access to HubSpot AI.

With this change, the company said it will remove seat minimums for Sales Hub and Service Hub and introduce the Core Seat and View-Only Seat.

The updates to HubSpot’s subscription pricing model will go into effect globally on March 5, 2024 (March 6, 2024, in the Asia Pacific region) for new customers. 

Spreading its wings across other geographies, HubSpot recently became a member of the EU Cloud Code of Conduct for robust data protection practices and GDPR compliance.

“We’re thrilled to contribute to the General Assembly, driving best practices and maintaining GDPR compliance as HubSpot and our customers continue to grow and innovate,” Nicholas Knoop, HubSpot’s Data Protection Officer, stated.

HubSpot’s top peers include Adobe Inc. (NASDAQ:ADBE) (+7.31% in last month), Salesforce, Inc. (NYSE:CRM) (+12.4% in last month), SAP (NYSE:SAP) (+18.3% in last month) and Intuit Inc. (NASDAQ:INTU) (+7.5% in last month).

HubSpot expects fourth-quarter revenue to be between $556 million and $558 million. Full-year revenue is expected to be in the range of $2.144 billion and $2.146 billion.

The company sees fourth-quarter adjusted earnings of $1.53 to $1.55 per share. Full-year adjusted earnings are expected to be between $5.66 and $5.68 per share. 

Price Action: HUBS shares are trading higher by 1.95% to $621.78 on the last check Tuesday. 

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