Investors Cheer HubSpot (HUBS) Performance : Why Is The Stock Shooting Higher Thursday - HubSpot (NYSE:HUBS)

HubSpot, Inc HUBS shares are trading higher Thursday on upbeat A1 quarterly results and guidance reported Wednesday after-hours.
HubSpot reported first-quarter revenue growth of 27% year-on-year to $501.6 million, beating the consensus of $474.8 million. Adjusted EPS of $1.20 beat the consensus of $0.83.
Subscription revenue was $489.7 million, up 27% Y/Y.
HubSpot grew customers to 177,298 on March 31, 2023, up 23% Y/Y.
The average subscription revenue per customer was $11,365, up by 3% Y/Y.
HubSpot expects Q2 revenue of $503.0 million - $505.0 million and adjusted EPS of $0.98 - $1.00.
HubSpot raised FY23 revenue outlook to $2.080 billion - $2.088 billion, up from $2.050 billion - $2.060 billion prior (consensus $2.06 billion), and adjusted EPS to $4.80 - $4.85, up from $4.24 - $4.32 prior (consensus $4.27).
Analysts re-rated the stock and raised their price targets following the upbeat results and guidance.
Price Action: HUBS shares traded higher by 7.12% at $447.74 on the last check Thursday.

Investors Cheer HubSpot Performance: Why Is The Stock Shooting Higher Thursday