HubSpot (NYSE:HUBS) stock is back in the limelight on Thursday after reignited reports claimed that Alphabet is interested in acquiring the cloud-based customer relationship management business.
Insider sources claim that Alphabet (NASDAQ:GOOGL, NASDAQ:GOOG) is indeed still interested in acquiring HubSpot. These reports claim that the Google parent company has continued to progress negotiations after reports broke last month of a potential deal.
If Alphabet does move forward with plans to buy HubSpot, it could be one of the biggest deals on record. Investors will note that the market capitalization of HubSpot is sitting at roughly $30 billion after steady gains over the last year.
Earnings Lift HUBS Higher
HubSpot’s first-quarter earnings report is helping out HUBS stock today with its adjusted EPS of $1.68. That’s better than the $1.50 per share Wall Street was expecting. It was also improved over Q1 2023’s EPS of $1.20.
Revenue for the quarter came in at $617.4 million. That was another beat next to analysts’ estimate of $598 million. It’s also a 23% increase year-over-year (YOY) from $502 million.
HubSpot’s Q2 outlook is a bit mixed, however. This has it expecting adjusted EPS of between $1.62 and $1.64 on revenue ranging from $617 million to $619 million. For comparison, Wall Street is looking for adjusted EPS of $1.56 and revenue of $622.72 million for the quarter.
HUBS stock is up slightly as of Thursday morning and has been a bit volatile today.
Investors looking for more of the most recent stock market stories are in the right place!
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
