Strength Seen in HubSpot (HUBS): Can Its 4.4% Jump Turn into More Strength?

HubSpot (HUBS) shares soared 4.4% in the last trading session to close at $758.43. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 2.6% gain over the past four weeks.HubSpot recently completed the acquisition of Frame AI and intends to integrate it into its customer AI platform Breeze. The acquisition of this AI-powered conversation intelligence platform highlights HubSpot’s ongoing efforts to combine powerful AI with an intuitive, scalable platform that can support businesses to better anticipate and respond to customer needs.In addition, the company is increasingly benefiting from strong demand for its cloud-based infrastructure from small and medium enterprises. Healthy net customer additions to the starter edition and pricing optimization boost net sales in the lower tier of the market spectrum. The company has rolled out multiple updates to its Sales Hub product, including a low-priced Starter tier and improvement to its sales engagement tools to make them more affordable for growing sales teams. The growing adoption of inbound applications is a tailwind.This cloud-based marketing and sales software platform is expected to post quarterly earnings of $2.19 per share in its upcoming report, which represents a year-over-year change of +24.4%. Revenues are expected to be $673.67 million, up 15.8% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For HubSpot, the consensus EPS estimate for the quarter has been revised 28% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on HUBS going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>HubSpot is part of the Zacks Internet - Software industry. Chegg (CHGG), another stock in the same industry, closed the last trading session 3.4% higher at $1.52. CHGG has returned -7% in the past month.For Chegg, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.13. This represents a change of -63.9% from what the company reported a year ago. Chegg currently has a Zacks Rank of #3 (Hold).5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report HubSpot, Inc. (HUBS): Free Stock Analysis Report Chegg, Inc. (CHGG): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks