HubSpot Analysts Slash Their Forecasts After Q3 Results

HubSpot Inc (NYSE:HUBS) on Wednesday reported upbeat third-quarter financial results and issued fourth-quarter guidance below estimates.

HubSpot reported quarterly earnings of $3.81 per share which beat the analyst consensus estimate of $3.27 per share. The company reported quarterly sales of $947.565 million which beat the analyst consensus estimate of $924.785 million.

HubSpot said it sees fourth-quarter adjusted EPS of $3.85-$3.87, versus market estimates of $4.09. The company sees sales of $945.000 million-$947.000 million, versus expectations of $964.830 million.

“We are still in the early stages of a massive shift with AI, and we’re transforming HubSpot to lead in the Outcomes Era,” said Yamini Rangan, Chief Executive Officer at HubSpot. “AI is fundamentally changing software, from tools that help people do work to agents that do the work and deliver outcomes. We’re transforming our product, pricing, go-to-market, and how we operate to capture this opportunity, and we made meaningful progress across these areas this quarter.”

HubSpot shares fell 8.6% to $198.00 in pre-market trading

These analysts made changes to their price targets on HubSpot following earnings announcement.

• Piper Sandler analyst Billy Fitzsimmons maintained the stock with a Neutral and lowered the price target from $220 to $200.
• Cantor Fitzgerald analyst Matthew Vanvliet downgraded the stock from Neutral to Underweight and cut the price target from $265 to $170.

Considering buying HUBS stock? Here’s what analysts think:

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