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HubSpot Surges on Robust Outlook as Demand for CRM Stays Strong -Breaking

by Mike Robinson

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© Reuters

By Dhirendra Tripathi

Investing.com – HubSpot stock (NYSE:) soared 8% Friday after the company gave a robust outlook, following strong demand among small and medium firms for its customer relationship management software.

According to the company, its revenue for current year will range from $1.72 billion up to $1.73 trillion. This translates into a growth rate of 32 to 33 percent. In 2021, the company saw an increase of 47% in annual revenues to $1.3 billion.

HubSpot added 7,100 new customers to its platform in quarter three, closing out the year with 135,442 customers. This is a 30% increase over the previous year.

HubSpot targets B2B companies of small and medium size that want to grow. It stated that it is focusing on U.S.-based companies with less than 100 employees in an earnings call.

The fourth quarter’s total revenue jumped 47%, to $369 million. 97% of that came from subscriptions. The quarter saw an average 11% increase in subscription revenue per customer. HubSpot lists ZenPilot and Triage as its customers.

HubSpot projects revenue of $382million in its current quarter. That’s the median estimate within the company’s guidance range.

 

 

 

 

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