Is It Too Late to Buy HubSpot Stock?
HubSpot (NYSE: HUBS) has been on an epic run so far in 2023, fueled by a general recovery in technology stocks. Shares of the customer relationship management (CRM) specialist are up more than 60% so far this year (as of this writing), nearly six times the increase of the S 500. This marks a stark reversal of fortune compared to its performance in 2022, when the stock plunged 56%.
Beyond the general market rebound, HubSpot's expansion into adjacent markets and its solid financial results have helped fuel the rising stock price. Furthermore, HubSpot was remarkably resilient throughout the downturn, adding customers and generating robust growth despite the macroeconomic headwinds it faced. This helped backstop investor confidence that the company is positioning itself for additional gains to come.
What does this mean for those who missed out on HubSpot's sprint higher? Should they buy the stock now in anticipation of additional gains or delay buying because of its frothy valuation and continuing uncertainty on the macroeconomic front? Let's see what the evidence tells us.
Source Fool.com
