HubSpot Stock Jumps As Alphabet Considers Acquisition Offer: The Details

Zinger Key Points
  • Google is reportedly in talks with advisors about making a potential offer to acquire HubSpot.
  • HubSpot shares jumped nearly 9% on the reports.

HubSpot Inc HUBS shares spiked higher in early trading Thursday on reports Alphabet Inc GOOG GOOGL is considering a takeover.

What To Know: Google is in talks with advisors about making a potential offer to acquire HubSpot, per Reuters.

The stock was briefly halted for volatility Thursday morning. Hubspot shares continued to move higher immediately after resuming trading.

HubSpot offers a customer platform that helps businesses connect and grow. The company aims to deliver seamless connection for customer-facing teams on its platform, which includes AI-powered engagement hubs, a Smart CRM and a connected ecosystem with over 1,500 App Marketplace integrations.

HubSpot reported total revenues of $2.17 billion in 2023, up 25% compared to 2022. A large majority of the company’s revenues are subscription-based. The company anticipates full-year 2024 revenue of $2.55 billion to $2.56 billion. HubSpot had $1.7 billion in cash, equivalents and investments as of Dec. 31.

Don’t Miss: What’s Going On With Alphabet Stock Thursday?

HUBS Price Action: HubSpot shares are up approximately 17% since the start of the year. The stock was up 8.98% at $685.16 Thursday morning, according to Benzinga Pro.

Photo: courtesy of HubSpot.

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