HubSpot (HUBS) stock steals the show after launching payments platform

October 12, 2021 04:05 PM PDT | By Ipsita Sarkar

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HubSpot (HUBS) stock steals the show after launching payments platform — Image source: Peshkova,Shutterstock

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Highlights

HubSpot, Inc. (NYSE:HUBS) launched a new end-to-end payment solution, called HubSpot Payments.

HubSpot is partnering with Stripe to help power the HubSpot Payments.

HUBS was founded in 2006. The stock gained 138% in one year.

Software company HubSpot, Inc’s (NYSE:HUBS) stock was in the limelight on Tuesday after launching a new end-to-end payment solution, dubbed HubSpot Payments.

The HUBS stock jumped more than 11% to US$758.27 at the market close at 4 pm ET.

On Tuesday, the US$35.8-billion company introduced a new payment solution based on a customer-centric CRM platform. Users will be able to make payments quickly and seamlessly.

The new payment solution is an upgrade to the company’s existing CRM solution. HubSpot said companies using the platform won’t need a code or go through any integration hassles.

The platform will be integrated with customers’ websites. Moreover, the new CRM will save transaction time for both the companies and their customers, it said.

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Trending CRM technology software provider, HubSpot, Inc. Common Stock <a class='font-weight-bold' style='border-bottom: 2px dashed;' aria-label='https://kalkinemedia.com/us/companies/nyse-hubs' href='https://kalkinemedia.com/us/companies/nyse-hubs'>(NYSE:HUBS)</a> on announcing integrated Payment solution)

Source – Pixabay

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HubSpot-Stripe partnership

HubSpot said Stripe, which has been its partner since 2018, will help power the HubSpot Payments. In another announcement, the company unveiled an all-new sandbox system for enterprise customers. It will help developers and admins to test software.

The stock saw a high of US$813.995 in intraday trading at 2:06 pm ET before closing at US$758.27. On Oct 11, the stock closed at US$682.72 with a trading volume of 440,866.

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June quarter revenue

The company posted a revenue of US$310.8 million in the June of 2021, up from US$203.6 million in the same quarter of 2020. Its net loss fell to US$24.57 million or US$0.53 per share diluted from a net loss of US$29.4 million or US$0.67 per share diluted in the year-ago quarter.

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HubSpot is a technology company and provides cloud-based marketing and customer-relationship management software solutions through its CRM platform. The company is headquartered in Cambridge, Massachusetts.

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Bottomline

The fintech sector grew rapidly over the past year, buoyed by demand for on-the-go services during the pandemic. HUBS went public in 2014 and has since seen significant growth. The stock rose 138% in a year. However, investors should exercise due diligence before investing in stocks.

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