Why HubSpot Stock Rose 11.7% in August
HubSpot (NYSE: HUBS) gained 11.7% in the month of August, according to data from S&P Global Market Intelligence. The sales and marketing software-as-a-service company delivered a strong earnings report early in the month, then held up through an otherwise tumultuous month for the broader market. Since HubSpot's offerings help businesses become more efficient, the company's products and services are thought to be somewhat recession-resistant, and in a slow-growth world, any company that delivers 30%-plus growth will get some attention.
In its second quarter, HubSpot delivered impressive results. Revenue grew 33% year over year, while non-GAAP earnings per share surged 121% to $0.42 per share, both of which beat analyst expectations. Total customers actually grew at a higher rate than revenue, at 35%. Perhaps most importantly, the company raised its full-year guidance to $663 million to $665 million versus the previous guidance of $655.5 million to $658.5 million.
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Source Fool.com
