HubSpot (HUBS) Continues To Ride On Increased Product Uptake
Zacks Investment Research | Oct 02, 2017 10:15PM ET
On Oct 3, we issued an updated research report on Cambridge, MA based HubSpot Inc. (NYSE:HUBS) , a provider of inbound marketing and sales applications over the cloud.
The company’s products namely, HubSpot Marketing, HubSpot CRM and HubSpot Sales, together referred to as HubSpot growth stack are gaining rapid adoption. This is evident from the 37.1% year-over-year increase in the company’s top line in second-quarter 2017.
HubSpot’s bottom line also witnessed a significant improvement. In the last reported quarter, the company posted adjusted profit of 7 cents per share against a loss of 7 cents per share in the year-ago quarter.
Notably, most recently the company announced positive revisions to its third-quarter 2017 guidance. Management now expects total revenue for the soon-to-be reported quarter to be within $95.9 million to $96.9 million, up from the previously guided range of $92.8 million to $93.8 million.
Non-GAAP operating loss for the quarter is expected to be in the range of $1.2–$2.2 million. The revised projection is much better than management’s previous outlook of a loss of $3.5 million-$4.5 million. Non-GAAP net loss per share is now expected between 2 cents and 4 cents compared with a loss of 8 cents to 10 cents per share expected previously.
We believe that better-than-expected second-quarter results and improved expectations for the third quarter have boosted shares. HubSpot stock has gained 79.6% year to date, substantially outperforming the 19.1% rally of the Zacks Investment Research
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