Upside case
Bull case
$17-92.7%
The bull case prices HUBS at 1x on FY1 earnings, assuming continued execution and no meaningful deceleration in the core business.
Analysis OverviewBuyUpdated May 1, 2026
HubSpot, Inc. (HUBS) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
47
analysts
43 bullish · 0 bearish · 47 covering HUBS
Strong Buy
0
Buy
43
Hold
4
Sell
0
Strong Sell
0
Consensus Target
$361
+53.5% vs today
Scenario Range
— – $17
Model bear to bull value window
Coverage
47
Published analyst ratings
Valuation Context
18.9x
Forward P/E · Market cap $12.1B
HUBS price targets
Three scenarios for where HUBS stock could go
Current
~$235
Confidence
82 / 100
Updated
May 1, 2026
Where we are now
Current · $235
Base
$235
Bull
$17
Market caseClosest to today
Base case
$235+0.0%
This is close to how the market is already pricing HUBS — at roughly 19x forward earnings. No dramatic re-rating needed, just steady execution on the core business.
Stress case
Bear case
—
The bear case reflects a scenario where earnings shortfalls or multiple compression combine to materially reduce the stock from its current level.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
HubSpot, Inc.
HUBS · NYSETechnologySoftware - ApplicationDecember year-end
HubSpot is a cloud-based customer relationship management platform that helps businesses attract, engage, and delight customers through integrated marketing, sales, and service tools. It generates revenue primarily through subscription fees for its software platform—with pricing tiers based on features and usage—and secondarily through professional services and training. The company's key advantage is its unified, easy-to-use platform that seamlessly connects marketing, sales, and customer service functions, creating a sticky ecosystem that grows with customers' needs.
Market Cap
$12.1B
Revenue TTM
$3.1B
Net Income TTM
$46M
Net Margin
1.5%
HUBS Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
100%Exceptional
12 quarters tracked
Revenue Beat Rate
100%Exceptional
vs consensus estimates
Avg EPS Surprise
+15.4%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q2 2025
Q3 2025
Q4 2025
Q1 2026
Last 4 Quarters
EPS beats: 4 of 4Q2 2025
EPS
$1.78/$1.77
Revenue
$714M/$701M
Q3 2025
EPS
$2.19/$2.12
Revenue
$761M/$740M
Q4 2025
EPS
$2.66/$2.59
Revenue
$810M/$787M
Q1 2026
EPS
$3.09/$2.99
Revenue
$847M/$831M
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q2 2025 | $1.78/$1.77 | +0.6% | $714M/$701M | +1.9% |
| Q3 2025 | $2.19/$2.12 | +3.3% | $761M/$740M | +2.8% |
| Q4 2025 | $2.66/$2.59 | +2.7% | $810M/$787M | +2.9% |
| Q1 2026 | $3.09/$2.99 | +3.3% | $847M/$831M | +1.9% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$3.7B
+19.6% YoY
FY2
$4.5B
+19.6% YoY
EPS Outlook
FY1
$7.99
+814.0% YoY
FY2
$8.25
+3.3% YoY
Trailing FCF (TTM)$677M
FCF Margin: 21.6%
Next Earnings
May 7, 2026
Expected EPS
$2.44
Expected Revenue
$863M
HUBS beat EPS estimates in 4 of 4 tracked quarters. A perfect track record raises the bar for the upcoming report.
HUBS Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $3.1B
Product Mix
Latest annual revenue by segment or product family
Subscription and Circulation
97.8%
+19.2% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
Americas
59.8%
+17.8% YoY
Tap, hover, or focus a slice to inspect segment detail.
Subscription and Circulation is the largest disclosed segment at 97.8% of FY 2025 revenue, up 19.2% YoY.
Americas is the largest reported region at 59.8%, up 17.8% YoY.
HUBS Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Significantly Undervalued
Fair value est. $425 — implies +77.2% from today's price.
Upside to Fair Value
77.2%
potential upside
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
HUBS
273.4x
vs
S&P 500
25.2x
+984% premium
vs Technology Trailing P/E
HUBS
273.4x
vs
Technology
27.5x
+895% premium
vs HUBS 5Y Avg P/E
Today
273.4x
vs
5Y Average
—
Benchmark unavailable
Forward PE
18.9x
S&P 500
19.1x
-1%
Technology
21.7x
-13%
5Y Avg
—
—
Trailing PE
273.4x
S&P 500
25.2x
+984%
Technology
27.5x
+895%
5Y Avg
—
—
PEG Ratio
—
S&P 500
1.75x
—
Technology
1.47x
—
5Y Avg
—
—
EV/EBITDA
66.6x
S&P 500
15.3x
+336%
Technology
17.4x
+283%
5Y Avg
—
—
Price/FCF
17.1x
S&P 500
21.3x
-20%
Technology
19.8x
-14%
5Y Avg
92.3x
-81%
Price/Sales
3.9x
S&P 500
3.1x
+23%
Technology
2.4x
+60%
5Y Avg
13.1x
-71%
Dividend Yield
—
S&P 500
1.88%
—
Technology
1.18%
—
5Y Avg
—
—
| Metric | HUBS | S&P 500 | Technology | 5Y Avg HUBS |
|---|---|---|---|---|
| Forward PE | 18.9x | 19.1x | 21.7x-13% | — |
| Trailing PE | 273.4x | 25.2x+984% | 27.5x+895% | — |
| PEG Ratio | — | 1.75x | 1.47x | — |
| EV/EBITDA | 66.6x | 15.3x+336% | 17.4x+283% | — |
| Price/FCF | 17.1x | 21.3x-20% | 19.8x-14% | 92.3x-81% |
| Price/Sales | 3.9x | 3.1x+23% | 2.4x+60% | 13.1x-71% |
| Dividend Yield | — | 1.88% | 1.18% | — |
HUBS trades above S&P 500 benchmarks on 3 of 5 measured multiples — is elevated on some multiples, but competitive on others — a mixed valuation picture.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolHUBS Financial Health
Verdict
Adequate
HUBS generates $677M in free cash flow at a 21.6% margin — returns 4.1% of market cap to shareholders annually.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$3.1B
Revenue Growth
TTM vs prior year
+19.2%
Gross Margin
Gross profit as a share of revenue
83.8%
Operating Margin
Operating income divided by revenue
0.2%
Net Margin
Net income divided by revenue
1.5%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$0.87
Free Cash Flow (TTM)
Cash generation after capex
$677M
FCF Margin
FCF as share of revenue — the primary cash quality signal
21.6%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
0.4%
ROA
Return on assets, trailing twelve months
1.2%
Cash & Equivalents
Liquid assets on the balance sheet
$882M
Net Cash
Cash exceeds total debt — no net leverage
$397M
Debt Serviceability
Net debt as a multiple of annual free cash flow
Net cash ✓
ROE *
Return on equity, trailing twelve months
2.3%
* Elevated by buyback-compressed equity — compare ROIC (0.4%) for an undistorted picture of capital efficiency.
Shareholder Returns
How capital is returned to owners
Total shareholder yield
4.1%
Dividend
—
Buyback
4.1%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$500M
Dividend / Share
Annualized trailing dividend per share
—
Payout Ratio
Share of earnings distributed as dividends
—
Shares Outstanding
Declining as buybacks retire shares
51M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt). ROE marked * where buyback-compressed equity base may inflate the figure.
Open full ratios pageHUBS Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 29, 2026
High Risk
Market Volatility
HubSpot's stock has seen significant declines from its 12-month high, indicating potential volatility. The stock is classified as 'high risk' due to substantial daily price movements and a wide prediction interval from the Bollinger Band.
High Risk
Dependence on AI
HubSpot's increasing reliance on AI-powered features poses a risk, particularly regarding their efficiency and financial implications. Concerns about rising credit consumption and competition in AI solutions could impact the company's financial health.
Medium
Insider Selling
There has been notable insider selling activity, which may indicate a lack of confidence in HubSpot's short-term prospects. This selling has resulted in a negative 'Insider Power Score', potentially affecting investor sentiment.
Medium
Valuation Concerns
HubSpot's high price-to-earnings ratio suggests that the stock may be overvalued relative to its earnings. This could deter value-focused investors and impact the stock's attractiveness.
Lower
Macroeconomic Factors
External factors such as economic downturns and geopolitical events, including the Middle East crisis, could pose risks to HubSpot. However, software companies typically maintain conservative macro assumptions.
Lower
Adoption of New Technologies
The success of HubSpot's new AI-powered tools is contingent on customer adoption rates. If adoption lags, it could exacerbate competitive pressures and affect the company's growth.
Lower
Debt and Financial Health
While HubSpot has positive free cash flow and significant cash reserves, it does utilize debt. The risk arises if the company faces challenges in meeting its obligations, despite currently having a net cash position.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why HUBS Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 29, 2026
AI Integration and Innovation
HubSpot is actively integrating AI across its platform, with recent launches like HubSpot AEO, AI Agents, and Smart Deal Progression. This focus on AI is seen as a catalyst for future growth and market consolidation, potentially expanding its total addressable market.
Strong Financial Performance and Growth
HubSpot has demonstrated significant revenue growth, with a 19.17% increase in 2025 compared to the previous year, reaching $3.131 billion. The company has also shown strong earnings growth, with an 892.03% increase in 2025, indicating effective cost management and operational efficiency.
Customer Growth and Adoption
The company continues to grow its customer base, with an 18% increase in customers year-over-year as of June 30, 2025. There's also evidence of increased adoption of its multi-hub offerings and expansion into larger enterprises.
Analyst Confidence and Price Targets
Many analysts maintain 'Buy' or 'Strong Buy' ratings for HUBS, with average price targets significantly above the current stock price, suggesting substantial upside potential. Some analysts have even raised their price targets, citing AI as a catalyst for market expansion.
Undervalued Potential
Despite recent stock price volatility and pullbacks, some analysts believe the stock is undervalued, trading significantly below its 52-week high and analyst consensus targets. Morningstar has noted that software stocks, in general, are at their most undervalued in three years.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
HUBS Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$235.16
52W Range Position
10%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$187.45
+25.5% from the low
52-Week High
$682.57
-65.5% from the high
1 Month
-4.07%
3 Month
+1.11%
YTD
-38.5%
1 Year
-62.8%
3Y CAGR
-19.1%
5Y CAGR
-13.7%
10Y CAGR
+18.1%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
HUBS vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
18.9x
vs 34.7x median
-46% below peer median
Revenue Growth
+19.6%
vs +10.4% median
+88% above peer median
Net Margin
1.5%
vs 3.1% median
-53% below peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
HUB HUBS HubSpot, Inc. | $12.1B | 18.9x | +19.6% | 1.5% | Buy | +53.5% |
CRM CRM Salesforce, Inc. | $174.3B | 15.4x | +3.7% | 18.0% | Buy | +58.4% |
DDO DDOG Datadog, Inc. | $46.8B | 67.0x | +23.6% | 3.1% | Buy | +21.5% |
BRZ BRZE Braze, Inc. | $2.2B | 34.7x | +24.9% | -17.8% | Buy | +93.4% |
ADB ADBE Adobe Inc. | $103.3B | 10.6x | +8.1% | 29.5% | Buy | +38.1% |
TWL TWLO Twilio Inc. | $29.0B | 35.3x | +10.4% | 2.0% | Buy | -3.3% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
HUBS Dividend and Capital Return
HUBS returns 4.1% annually — null% through dividends and 4.1% through buybacks.
Dividend UnknownFCF Unknown
Total Shareholder Yield
4.1%
Dividend + buyback return per year
Buyback Yield
4.1%
Dividend Yield
—
Payout Ratio
—
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$0.00
Growth Streak
Consecutive years of dividend increases
0Y
3Y Div CAGR
—
5Y Div CAGR
—
Ex-Dividend Date
—
Payment Cadence
—
0 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$500M
Estimated Shares Retired
2M
Approx. Share Reduction
4.1%
Shares Outstanding
Current diluted share count from the screening snapshot
51M
At 4.1%/year, buybacks mechanically lift EPS even with flat earnings — each remaining share represents a slightly larger piece of the company.
FAQ
7 questionsHUBS Investor Questions
Common questions answered from live analyst data and company financials.
01Is HubSpot, Inc. (HUBS) stock a buy or sell in 2026?
HubSpot, Inc. (HUBS) is rated Buy by Wall Street analysts as of 2026. Of 47 analysts covering the stock, 43 rate it Buy or Strong Buy, 4 rate it Hold, and 0 rate it Sell or Strong Sell. The consensus 12-month price target is $361, implying +53.5% from the current price of $235.
02What is the HUBS stock price target for 2026?
The Wall Street consensus price target for HUBS is $361 based on 47 analyst estimates. The high-end target is $577 (+145.4% from today), and the low-end target is $260 (+10.6%). The base case model target is $235.
03Is HubSpot, Inc. (HUBS) stock overvalued in 2026?
HUBS trades at 18.9x times forward earnings. The stock trades at a notable premium to the broad market, which is typical for businesses with strong free cash flow and above-average growth expectations. Based on current multiples versus the peer group, the relative model signals significantly undervalued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for HubSpot, Inc. (HUBS) stock in 2026?
The primary risks for HUBS in 2026 are: (1) Market Volatility — HubSpot's stock has seen significant declines from its 12-month high, indicating potential volatility. (2) Dependence on AI — HubSpot's increasing reliance on AI-powered features poses a risk, particularly regarding their efficiency and financial implications. (3) Insider Selling — There has been notable insider selling activity, which may indicate a lack of confidence in HubSpot's short-term prospects. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is HubSpot, Inc.'s revenue and earnings forecast?
Analyst consensus estimates HUBS will report consensus revenue of $3.7B (+19.6% year-over-year) and EPS of $7.99 (+814.0% year-over-year) for the upcoming fiscal year. The following year, analysts project $4.5B in revenue.
06When does HubSpot, Inc. (HUBS) report its next earnings?
HubSpot, Inc. is expected to report its next earnings on approximately 2026-05-07. Consensus expects EPS of $2.44 and revenue of $863M. Over recent quarters, HUBS has beaten EPS estimates 100% of the time.
07How much free cash flow does HubSpot, Inc. generate?
HubSpot, Inc. (HUBS) generated $677M in free cash flow over the trailing twelve months — a free cash flow margin of 21.6%. HUBS returns capital to shareholders through and share repurchases ($500M TTM).