HubSpot, Inc (HUBS) – Continued resilient growth and huge TAM

HubSpot, Inc (HUBS) Equity Report (Q2FY23)

Stock Performance: HubSpot’s stock price has been on a downward trend for the past three months, resulting in a negative return of 28.41%. However, the stock price has increased by 40.15% over the past year. The 52-week high of the stock is $581.40, while the 52-week low is $249.99.

Q2FY23 Performance: Total revenue was $529.1mn, up 25% compared to Q2FY22, Subscription revenue was $517.7mn, up 26% compared to Q2FY22, Professional services, and other revenue was $11.5mn, up 23% compared to Q2FY22.

Guidance: For FY23, the company’s total revenue is expected to be from $2.116bn to $2.122bn. Non-GAAP operating income is expected to be between $293mn and $297mn. Non-GAAP diluted net income per share is expected to be between $5.24 and $5.29, assuming approximately 52.3mn weighted average diluted shares outstanding.

Highlights

HubSpot also experienced a significant increase in its customer base, with a total of 184,924 customers as of June 30, 2023. This represents a 23% growth compared to the same period in 2022.

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Highlights

Valuation

– Enterprise Value
– CrispIdea Forecast
– CrispIdea Segment Forecast
– Economic Value Added Analysis
– Peer Valuation
– CrispIdea Forecast Relative to Consensus
– Consensus History and Surprise
– Consensus Momentum

Actual & Historical Performance

– Income Statement
– Balance Sheet
– Cash Flow
– 10 Year Historical Performance
– Ratio Analysis
– Du Pont Analysis
– ROIC & ROCE Analysis
– Segment Performance
– Key Metrics

Peer Performance

– Summary
– Profitability
– Growth
– Price Performance

Ownership

Stock Price Performance

Crispidea Coverage

No of Pages: 35

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