HubSpot (HUBS) Stock Climbing Today After JPMorgan Upgrade
NEW YORK (TheStreet) -- HubSpot (HUBS) stock is up 3.69% to $35.69 in morning trading Thursday after JPMorgan increased the company's ratingto "overweight" from "neutral" andraised their price target to $41.
Although the Internetmarketing software developer's shares fell roughly 7% since its third quarter in November 2014 (the company went public last August), JPMorgan suggested that HubSpot was tracking well in terms of new business signings and revenue retention, as reflected in its fourth quarter.
In its 2014 fourth quarter the company had a net loss of 25 cents per share, 2 cents less than analysts' net loss estimates of 27 cents per share. Its actual GAAP net loss was 69 cents per share for the quarter.
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In addition,HubSpot reported total revenue of $34.2 million in its fourth quarter, up 53% from its year-ago quarter, and exceeded analysts' estimates of $31.68 million. The company's full year revenue was $115.9 million, up 49% from the previous year.
"It's impressive revenue growth and customer adds suggest the movement to Inbound marketing is solidifying," analysts noted.
HubSpot anticipates total revenue in the range of $34.8 million to $35.8 million in its first quarter of 2015, and total revenue in the range of $159 million to $163 million for its fiscal year 2015. HUBS data by YCharts
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HubSpot (HUBS) Stock Climbing Today After JPMorgan Upgrade