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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
