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By Dhirendra Tripathi
Investing.com – HubSpot stock (NYSE:) soared 8% Friday after the company gave a robust outlook, following strong demand among small and medium firms for its customer relationship management software.
The company is projecting its current-year revenue to be $1.72 billion to $1.73 billion, translating into growth of 32% to 33%. Annual revenue in 2021 grew 47%, to $1.3 billion.
HubSpot net added 7,100 customers in the quarter, closing the year at 135,442 customers, up 30% from a year ago.
HubSpot targets small- and medium-sized B2B firms that are looking to scale up. In an earnings call with analysts, it said it is focused on reaching U.S.-based B2B companies with fewer than 100 employees.
Total revenue in the fourth quarter jumped 47% to top $369 million, with 97% of it coming in from subscriptions. Average subscription revenue per customer rose 11% in the quarter. HubSpot counts staffing agency Triage and operations consulting business ZenPilot among its clients.
In the current quarter, HubSpot expects revenue to be $382 million at the center of its guidance range.
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