NEW YORK, Feb 13, 2026, 09:19 EST — Premarket
- HubSpot traded flat ahead of the bell, holding after Thursday’s 9.4% jump to $228.95.
- The company set its sights on $3.69 to $3.70 billion in revenue for 2026 and cleared as much as $1 billion for share repurchases.
- Price targets got chopped by broker notes after results, leaving investors eyeing the open for any follow-through.
HubSpot’s stock barely budged in premarket trading Friday, following a big move on Thursday. Shares surged 9.4% to finish at $228.95 after the company posted earnings and unveiled a new buyback plan that seemed to pull investors back in.
HubSpot’s shift is drawing attention, since the company has turned into something of a bellwether for spending among smaller and mid-sized firms on customer-facing software—especially as some budgets start to get squeezed. The company is also making a more aggressive play upmarket, where heavyweight competitors like Salesforce and Microsoft have held sway for years. These days, investors tend to scrutinize margins just as closely as growth in that high-stakes territory.
HubSpot posted a 20% jump in fourth-quarter revenue to $846.7 million late Wednesday, or 18% on a constant-currency basis. Looking ahead, the company projected 2026 revenue between $3.69 billion and $3.70 billion, and expects non-GAAP earnings in the $12.38 to $12.46 per share range—non-GAAP being the adjusted profit figure it reports alongside the usual accounting numbers. The board cleared a share buyback of up to $1.0 billion, set to run for as long as 24 months but subject to pause or cancellation. CEO Yamini Rangan pointed to stronger AI adoption, citing “real outcomes for customers” from Breeze Customer Agent and Breeze Prospecting Agent. HubSpot
Wolfe Research’s Alex Zukin described the outlook as “conservative,” noting 24% net new annual recurring revenue growth expected for 2025. That’s NNARR—net new subscription value from the year—essentially a bookings proxy that investors track for early signs of momentum. Investing
Price targets took a sharp turn lower. RBC halved its target to $400 from $800 but stuck with Outperform. Morgan Stanley dropped its target to $405 from $577, still at Overweight, MT Newswires said. Truist slashed its target to $300 from $650 yet maintained Buy, and UBS shaved its target down to $325 from $450, also keeping Buy.
The rally after earnings doesn’t leave much margin for error. Should growth in customer numbers falter again, or if competitors push back with their own AI offerings and prices get squeezed, HubSpot’s outlook may end up capping the story instead of underpinning it.
HubSpot’s annual Form 10-K landed Feb. 11, according to a company filing. The report flagged risk factors the company associates with competition and the wider economic climate, offering investors a more detailed look.
Eyes now turn to see if Thursday’s bounce can stick after the bell rings at 9:30 a.m. ET. With U.S. markets shuttered Monday for Presidents’ Day, there’s a tighter window until action picks up again Tuesday.
