Why HubSpot, Overstock.com, and Applied Materials Jumped Today
Stocks posted solid gains on Wednesday, sending major benchmarks higher by as much as 1.2%. The good news came largely from bullishness regarding the release of the Trump administration's tax proposal, which would reduce the number of individual tax brackets and lower tax rates on corporations. Investors expect those measures to improve corporate profits and potentially spur greater consolidation through mergers and acquisitions. In addition, some company-specific news bolstered stocks, and HubSpot (NYSE: HUBS), Overstock.com (NASDAQ: OSTK), and Applied Materials (NASDAQ: AMAT) were among the best performers on the day. Below, we'll look more closely at these stocks to tell you why they did so well.
Shares of HubSpot gained 11% after the provider of promotional market strategies boosted its guidance for the current quarter. The company now believes that revenue will be about $3 million (or just over 3%) higher than previously expected, and that should help HubSpot cut its expected loss by more than half. Stock analysts were equally upbeat about the company's prospects, and many now believe that a healthy environment for small businesses could be particularly valuable in helping HubSpot build up its business even more quickly in the years to come. Given the stock's already impressive move higher, HubSpot will need to follow through in capitalizing on its opportunity to keep investors happy.
Image source: HubSpot.
Source: Fool.com
Overstock.com Stock
Based on 4 Buy predictions and 3 Sell predictions the sentiment towards Overstock.com is rather balanced.
With a target price of 39 € there is potential for a 178.07% increase which would mean more than doubling the current price of 14.03 € for Overstock.com.
