With Shares Down Nearly 30%, Is Now the Time to Buy This Tech Software Stock?
Hubspot (NYSE: HUBS) shares are below $500 after falling from their 2024 high of $682, achieved in April. The stock is down 16% year to date and 30% from its 2024 high.
Big changes to valuation can be important signals for investors to take action. Either the stock is available at a newly discounted price or there's a fundamental issue that's likely to create more problems.
Hubspot's most recent quarterly financial results were impressive. The company achieved 23% revenue growth, and its adjusted earnings increased 40%. It produced roughly $100 million of free cash flow during the first quarter of 2024, up from $60 million in the first quarter of 2023. These figures all exceeded analyst expectations.
Source Fool.com
