Want to see HUBS full AI Analyst Report?
Top Page
HubSpot
(NYSE:HUBS)
Select Model
Select Model
Rating:72Outperform
Price Target:
$239.00
▲(7.42% Upside)
Action:Reiterated
Date:06/17/26
The score is driven primarily by strengthening financial performance (notably strong free cash flow and a solid balance sheet) and a generally positive earnings outlook with improving margins and AI monetization traction. These positives are tempered by weak technical momentum (price below key moving averages) and a high P/E valuation that leaves less room for execution missteps.
Positive Factors
Strong free cash flow
Consistent, material free cash flow (~$712M TTM) and high operating cash generation provide durable funding for R&D, go-to-market investment, share buybacks, and opportunistic M&A. Strong FCF conversion also improves resilience to cyclical slowdowns and supports long-term strategic optionality.
Negative Factors
Thin bottom-line margins
Net margins remain slim (~3% TTM) despite very high gross margins, indicating operating expenses (sales, marketing, R&D, stock comp) still materially compress profitability. Low margin buffer increases sensitivity to slower revenue growth or higher costs and constrains reinvestment flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong free cash flow
Consistent, material free cash flow (~$712M TTM) and high operating cash generation provide durable funding for R&D, go-to-market investment, share buybacks, and opportunistic M&A. Strong FCF conversion also improves resilience to cyclical slowdowns and supports long-term strategic optionality.
Read all positive factors
HubSpot Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Data provided by:
The Fly
The FlyHubSpot (HUBS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$11.50B
Dividend YieldN/A
Average Volume (3M)1.56M
Price to Earnings (P/E)117.7
Beta (1Y)1.29
Revenue Growth21.05%
EPS GrowthN/A
CountryUS
Employees8,882
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)1.91
Shares Outstanding51,217,740
10 Day Avg. Volume1,112,181
30 Day Avg. Volume1,562,601
Financial Highlights & Ratios
PEG Ratio0.52
Price to Book (P/B)10.19
Price to Sales (P/S)6.72
P/FCF Ratio29.75
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$272.21Price Target Upside22.35% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering28
EPS Forecast (FY)13.12
Revenue Forecast (FY)$3.71B
HubSpot Business Overview & Revenue Model
Company Description
HubSpot, Inc. offers an expansive, cloud-hosted customer relationship management (CRM) platform, catering to businesses across the Americas, Europe, and the Asia Pacific. This integrated system features fundamental modules for marketing, sales, cu...
How the Company Makes Money
HubSpot primarily makes money by selling subscription access to its cloud software (SaaS). Revenue is largely generated through recurring subscription fees for its product “Hubs” (e.g., Marketing Hub, Sales Hub, Service Hub, Content Hub/ CMS, and ...
HubSpot Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Positive
The call conveyed strong operational and financial momentum—robust revenue growth (23% as-reported / ~18% CC), meaningful margin expansion, accelerating AI monetization (core seats +90% YoY; credits +67% QoQ), nearly 300k customers, and raised/affirmed full-year guidance. Management also disclosed near-term headwinds: April pricing and sales retraining slowed Q2 bookings, net new ARR was below revenue growth in Q1, and some sales cycles will lengthen due to trials and outcome-based pricing. Strategic investments in AI, an improving margin profile, and clear upmarket and multi-hub traction dominate the narrative, but execution risks and short-term cadence shifts temper the outlook.Positive Updates
Top-line Growth
Q1 revenue grew 23% year-over-year as reported and ~18% in constant currency (CEO: 18.2% CC); subscription revenue +23% YoY; services & other revenue +22% YoY.
Negative Updates
Near-term Sales Disruption from Pricing & Enablement Changes
April pricing & packaging changes plus a deliberate sales retraining reduced sales capacity and extended sales cycles; management said Q2 got off to a slow start and reflected this in guidance, with Q2 CC growth expected to step down to ~16%.
Read all updates
Q1-2026 Updates
Positive
Negative
Top-line Growth
Q1 revenue grew 23% year-over-year as reported and ~18% in constant currency (CEO: 18.2% CC); subscription revenue +23% YoY; services & other revenue +22% YoY.
Read all positive updates
Company Guidance
For Q2 the company guided revenue of $897–$898M (up 18% y/y as‑reported, +16% in constant currency), non‑GAAP operating income of $173–$174M (a 19% margin), and non‑GAAP diluted EPS of $3.00–$3.02 (assumes ~51.2M diluted shares). For fiscal 2026 they guided revenue of $3.70–$3.708B (up 18% as‑reported, +17% cc; a 40 bps raise), non‑GAAP operating income of $762–$766M (21% margin), non‑GAAP diluted EPS of $13.04–$13.12 (assumes ~51.8M shares) and ~ $750M of free cash flow; they also expect roughly 2 points of operating‑margin expansion in 2026, aim to sit in a 20–22% non‑GAAP operating‑margin range, expect stock‑based comp to decline ~3 points to ~14% of revenue, see CapEx at 5–6% of revenue, and reiterated operational assumptions including quarterly net customer adds of 9k–10k, low‑ to mid‑single‑digit ASRPC growth in constant currency, and net‑revenue‑retention expanding ~1–2 points (Q1 NRR was 103%).HubSpot Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
82
Very Positive
Cash Flow
88
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.30B | 3.13B | 2.63B | 2.17B | 1.73B | 1.30B |
| Gross Profit | 2.76B | 2.62B | 2.23B | 1.83B | 1.42B | 1.04B |
| EBITDA | 261.81M | 234.84M | 129.23M | -74.10M | -36.54M | 1.62M |
| Net Income | 100.26M | 45.91M | 4.63M | -164.51M | -107.35M | -77.84M |
Balance Sheet | ||||||
| Total Assets | 3.83B | 3.85B | 3.80B | 3.07B | 2.54B | 2.17B |
| Cash, Cash Equivalents and Short-Term Investments | 1.69B | 1.70B | 2.07B | 1.39B | 1.41B | 1.20B |
| Total Debt | 247.29M | 262.31M | 745.42M | 787.81M | 806.34M | 712.97M |
| Total Liabilities | 1.83B | 1.79B | 1.89B | 1.74B | 1.55B | 1.30B |
| Stockholders Equity | 2.00B | 2.07B | 1.91B | 1.33B | 992.22M | 873.80M |
Cash Flow | ||||||
| Free Cash Flow | 712.47M | 707.55M | 560.66M | 250.72M | 181.40M | 176.86M |
| Operating Cash Flow | 797.97M | 760.72M | 598.60M | 350.97M | 273.17M | 238.73M |
| Investing Cash Flow | 533.79M | 491.77M | -515.86M | -334.77M | -319.66M | -179.51M |
| Financing Cash Flow | -1.03B | -910.01M | 53.49M | 37.01M | 7.43M | -51.47M |
HubSpot Technical Analysis
Positive
222.49
Price Trends
201.04
Positive
222.02
Positive
299.16
Negative
Market Momentum
5.03
Negative
63.28
Neutral
76.49
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HUBS, the sentiment is Positive. The current price of 222.49 is above the 20-day moving average (MA) of 192.98, above the 50-day MA of 201.04, and below the 200-day MA of 299.16, indicating a neutral trend. The MACD of 5.03 indicates Negative momentum. The RSI at 63.28 is Neutral, neither overbought nor oversold. The STOCH value of 76.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HUBS.
HubSpot Risk Analysis
HubSpot disclosed 58 risk factors in its most recent earnings report. HubSpot reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
HubSpot Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $5.33B | -215.08 | -3.04% | ― | 33.60% | 63.13% | |
72 Outperform | $11.50B | 117.69 | 5.02% | ― | 21.05% | ― | |
69 Neutral | $518.11M | -13.06 | -19.29% | ― | 12.27% | 37.41% | |
62 Neutral | $922.47M | 8.01 | 8.36% | ― | 3.64% | 230.24% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
60 Neutral | $1.78B | 69.09 | 7.70% | ― | 8.12% | -82.54% | |
52 Neutral | $3.18B | -19.25 | -12.16% | ― | 31.25% | 56.23% |
* Technology Sector Average
HUBS
HubSpot
224.57
-304.03
-57.52%
BL
BlackLine
30.28
-25.65
-45.86%
SPT
Sprout Social
8.62
-10.32
-54.49%
KC
Kingsoft Cloud Holdings
10.06
-4.78
-32.21%
GTM
ZoomInfo Technologies
3.13
-7.32
-70.05%
ZETA
Zeta Global Holdings Corp
21.40
5.50
34.59%
HubSpot Corporate Events
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
HubSpot Shareholders Approve Governance Changes and Director Slate
Positive
Jun 16, 2026
At its annual meeting held on June 15, 2026, HubSpot shareholders elected five Class III directors, including CEO Yamini Rangan, for one-year terms ending at the 2027 meeting and ratified PricewaterhouseCoopers LLP as the independent auditor for f...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.