HubSpot Plunges 19% on Q3 Guidance Miss Despite Q2 Beat
HUBS sits 19% above its 52-week low of $169.63 on elevated volume (2.1× avg).
Summary
HubSpot reported Q2 revenue of $911.7M, beating the $898.3M consensus, and adjusted EPS of $3.26 vs. $3.02 expected. But Q3 guidance of $924M-$925M in revenue and $3.25-$3.27 EPS fell well short of Street estimates of $942.3M and $3.45. Full-year revenue was also trimmed to $3.678B-$3.686B from $3.70B-$3.708B, though EPS guidance was raised. The stock dropped 19.2% after hours as the outlook signals slowing growth. The company also authorized a new $1B buyback and repurchased $531.9M in shares during Q2.
At the time of this announcement, HUBS was trading at $201.99 on NYSE in the Technology sector, with a market capitalization of approximately $12.8B. The 52-week trading range was $169.63 to $525.51. This news item was assessed with negative market sentiment and an importance score of 9 out of 10. Source: Benzinga.