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HubSpot, Inc. (HUBS) reported a net increase of over 9,700 customers in Q2, raising its total customer count to 267,982, a growth of 18% year over year. The company is focusing on AI integration, with its Customer Agent and Prospect Agent features adopted by 4,000 and 3,700 customers respectively. Additionally, HubSpot Sales Hub experienced a 71% year-over-year increase in seat upgrades due to rising demand for AI functionalities.
HubSpot’s recent AI advancements, including the acquisition of Frame.ai and Dashworks, aim to enhance efficiency within its product suite and internal operations. The company has also established connectors with ChatGPT and Claude, utilized by over 20,000 customers across 23 million CRM records. Despite these developments, HubSpot’s stock has declined 3.9% over the past year, trailing behind the industry’s growth of 40.7%.
The firm trades at a price/book ratio of 11.99 compared to the industry average of 6.47. Earnings estimates for 2025 and 2026 have improved to $9.49 and $11.36 per share, respectively.
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