2024-05-14 06:32:15 ET
Summary
- HubSpot's stock has slid nearly 15% and positive earnings release did little to renew enthusiasm.
- Acquisition hopes from Alphabet are propping up HubSpot's expensive valuation, trading at ~10x FY25 revenue.
- HubSpot had a "beat and raise" quarter in Q1 but faces fundamental risks and a tough macro environment.
- The company recently dropped pricing on its entry subscription plans to try to encourage greater customer adoption.
One theme that has rung consistently throughout this earnings season: it's taking a lot for investors to be impressed. Though "beat and raise" quarters have been prevalent across the tech sector, there have been very few rallies and many more disappointments....
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HubSpot: Acquisition Hopes Will Put A Floor On This Stock, But Don't Count On Much Upside