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On September 19, 2024
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HubSpot unveils AI tools for business growth By Investing.com
BOSTON - In a recent development aimed at transforming the efficiency of go-to-market (GTM) teams, HubSpot (NYSE:HUBS) has introduced a suite of AI-powered tools and updates to its customer platform. The announcement was made during the company's Fall 2024 Spotlight at INBOUND. HubSpot's latest offering, Breeze, is an AI designed to streamline customer engagement across marketing, sales, and service teams. Breeze features a new AI companion named Copilot and four Breeze Agents -- Content Agent, Social Media Agent, Prospecting Agent, and Customer Agent -- designed to expedite tasks from inception to completion. The platform has also been enhanced with over 80 new features, including content remixing capabilities and sales forecast predictions. Another component of the release, Breeze Intelligence, focuses on data enrichment and buyer intent. It leverages a database of over 200 million buyer and company profiles to enrich records in HubSpot's Smart CRM. Additionally, Breeze Intelligence offers tools for form shortening to improve conversion rates by pre-populating known information. Updates to Marketing Hub and Content Hub were also highlighted, providing marketers with tools to capture attention, generate leads, convert prospects, and measure impact. Innovations such as Content Remix for video, Lead Scoring, Google (NASDAQ:GOOGL) Enhanced Conversions, and a new Marketing Analytics Suite were introduced to help marketers optimize their campaigns and achieve faster results. HubSpot's commitment to creating an easy, fast, and unified customer platform is underscored by its customers' success metrics. According to HubSpot's research, 89% of customers with a unified platform use it daily across various teams, leading to a 107% increase in leads, a 35% rise in closed deals, and a 28% improvement in ticket resolution. Furthermore, 80% of HubSpot customers report seeing a return on investment within three months. Additionally, HubSpot Co-Founder and CTO Dharmesh Shah announced agent.ai, a professional network for AI agents. This platform will allow users to build and distribute AI agents capable of performing complex tasks, bolstering the company's agent ecosystem. This information is based on a press release statement from HubSpot, which did not provide specific details on the financial impact of these updates or the costs associated with adopting these new tools. In other recent news, HubSpot Inc . has been the subject of several notable developments. The company's Q2 2024 earnings call highlighted a 21% increase in revenue year-over-year, with the addition of over 11,200 net new customers, bringing the total to 228,000. Despite a slight decrease in average subscription revenue per customer, HubSpot's strategic shift towards an AI-powered customer platform and efficient go-to-market practices have contributed to a positive outlook. In other news, Canaccord Genuity maintained a Buy rating on HubSpot's stock, emphasizing the company's potential to achieve Rule of 40+ performance. The firm pointed out HubSpot's successful go-to-market strategy, pricing and packaging changes, and product expansion as key growth drivers. Similarly, Oppenheimer reiterated its Outperform rating on HubSpot, highlighting potential benefits from seat-based pricing changes and multi-hub dynamics. HubSpot's Chief Marketing Officer, Kipp Bodnar, was recently appointed to the Board of Directors of Similarweb (NYSE:SMWB) Ltd., a digital market intelligence company. This move is expected to enhance Similarweb's expertise in scaling SaaS businesses and driving customer engagement globally. Lastly, Citi adjusted its outlook on HubSpot shares, reducing the price target to $629 from the previous $699, while maintaining a Buy rating, citing macroeconomic challenges and broader economic factors. As HubSpot continues to innovate with AI-powered tools to enhance customer engagement and streamline GTM strategies, the company's financial metrics and market performance provide insights into its current standing and future prospects. According to InvestingPro data, HubSpot boasts a substantial market capitalization of $25.1 billion, reflecting investor confidence in its business model and growth potential. One of the standout InvestingPro Tips for HubSpot is its impressive gross profit margin, which has reached 84.51% over the last twelve months as of Q1 2023. This figure indicates HubSpot's strong ability to control costs and generate revenue efficiently from its sales, which is particularly relevant as the company invests in new AI tools and platform enhancements. Another noteworthy tip is HubSpot's expectation of net income growth this year. Despite not being profitable over the last twelve months, analysts predict the company will turn a profit this year, suggesting that the investments in AI and updates to their customer platform could be a driving force behind this anticipated financial improvement. InvestingPro data also reveals a revenue growth of 23.13% over the last twelve months, indicating a robust expansion in HubSpot's business operations. This growth is a positive sign for the company as it rolls out its new Breeze suite and other updates aimed at providing value to GTM teams. While HubSpot does not pay dividends, indicating a reinvestment strategy to fuel growth, the company has experienced a strong return over the last five years, which is an important consideration for potential investors looking at the company's track record. For readers interested in a deeper dive into HubSpot's financials and market performance, InvestingPro offers additional tips and metrics that can provide a more comprehensive understanding of the company's position and outlook. There are 11 more InvestingPro Tips available for HubSpot, which can be accessed at: https://www.investing.com/pro/HUBS
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Canaccord Genuity sees positive developments for HubSpot stock with AI integration through Breeze By Investing.com
On Thursday, Canaccord Genuity maintained a Buy rating and a $600.00 price target for HubSpot Inc (NYSE:HUBS) stock. Following HubSpot's annual INBOUND customer conference and analyst day, the firm's updates were viewed as consistent with market expectations. The event highlighted the introduction of Breeze, HubSpot's enhanced AI strategy that integrates new features, co-pilots, and AI-driven agents. Breeze Intelligence was also unveiled, leveraging the recent Clearbit acquisition to enhance HubSpot's Smart CRM with data enrichment and intent signals. Additionally, Agent.ai was announced, which serves as an experimental marketplace where customers can explore and create AI agents within the HubSpot ecosystem. The analyst from Canaccord Genuity noted these innovations as positive contributions to HubSpot's narrative. Emphasis was placed on the company's ongoing strategy, which prioritizes delivering customer value through AI before focusing on monetization. This strategy remains unchanged despite the new developments. In other recent news, HubSpot Inc. has been making strides with its new AI platform, Breeze, which was showcased at the company's Inbound conference and Analyst Day. Evercore ISI maintained an In Line rating on HubSpot, highlighting the company's plan to integrate AI across its platform. BMO Capital also reiterated an Outperform rating, emphasizing the company's effective utilization of AI and strategic investments. HubSpot's new AI platform, Breeze, is designed to streamline customer engagement across marketing, sales, and service teams. The company also announced a suite of AI-powered tools and updates to its customer platform, including Breeze Intelligence, which focuses on data enrichment and buyer intent. The company has set ambitious financial targets, including a long-term operating margin target of 25% and a fiscal year 2027 operating margin target of 20-22%. Canaccord Genuity maintained a Buy rating on HubSpot's stock, citing the company's potential to achieve Rule of 40+ performance and its successful go-to-market strategy. Meanwhile, Oppenheimer reiterated its Outperform rating on HubSpot, highlighting potential benefits from seat-based pricing changes and multi-hub dynamics. As HubSpot Inc (NYSE:HUBS) continues to make strides in AI innovation and customer value, Canaccord Genuity's maintained Buy rating and price target seem to be backed by a number of positive indicators. According to InvestingPro data, HubSpot boasts a robust gross profit margin of 84.51% as of the last twelve months leading up to Q2 2024, underlining the company's ability to maintain high profitability on its services. Additionally, the company has experienced a healthy revenue growth of 23.13% over the same period, indicating a strong market demand for its offerings. While HubSpot is trading at a high Price / Book multiple of 16.16, suggesting a premium valuation, InvestingPro Tips reveal that analysts predict the company will become profitable this year, which could justify the premium. Furthermore, the company's stock price movements have been quite volatile, which could present opportunities for investors looking for high-growth potential in the technology sector. For those interested in further insights, InvestingPro offers additional tips that delve deeper into HubSpot's financial health and market position. It's also worth noting that HubSpot does not pay a dividend to shareholders, which is common for growth-oriented tech companies that prefer to reinvest earnings back into the business. With a market cap of $25.87 billion and a forward-looking approach to AI, HubSpot's strategic direction appears to be on a promising trajectory. For a more comprehensive analysis, readers can explore the full suite of InvestingPro Tips available at https://www.investing.com/pro/HUBS.
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HubSpot To Gain Market Share With AI Innovations and Strong Retention, Bullish Analyst Says - HubSpot (NYSE:HUBS)
Analyst Bracelin is optimistic about HubSpot's growth, citing AI innovations, partner support, and improving trends through July and August. Piper Sandler analyst Brent Bracelin maintained an Overweight rating on HubSpot Inc HUBS with a $570 price target. Bracelin expects HubSpot to gain market share due to its highly efficient GTM effort combined with organic product development, which results in customer satisfaction and structurally higher gross dollar retention in the high 80s. The analyst noted that the company is increasing, expanding at three times the market's 11% rate over the last four years, yet its share is still a tiny 4%. Also Read: HubSpot Analysts Cut Their Forecasts After Q2 Results In the near term, HubSpot faces headwinds in macro and foreign exchange, but the company expects to recover quickly when the economy strengthens. Bracelin attended the HubSpot customer conference (Inbound) and analyst day in Boston, MA, which left him incrementally positive that moving past the election or interest rate cuts could spur new customer spending growth. The analyst remains impressed with HubSpot's product innovations, which drive substantial customer net additions and above-market growth despite two years of challenging macroeconomic conditions. The company discussed a new series of AI product innovations, Bracelin flagged. Partner and customer discussions indicate incremental bullishness on demand trends moving into 2025. The company also updated its long-term operating margin target from 20%-25% to 25%. Agency partners remain committed to the HubSpot platform and, despite a change in commission structure, continue to drive net new business for the company, the analyst noted. CEO Yamini Rangan's keynote address highlighted the key challenge for HubSpot's customers over the last two years. Bracelin noted that this challenge is highly correlated to the recent interest rate cycle, making attracting and retaining customers more demanding. Management continues accelerating AI product development with several new modules released at Inbound 2024. During the keynote session, Bracelin noted that CTO and co-founder Dharmesh Shah highlighted HubSpot's development of a "LinkedIn"-style interface where customers can search for and utilize AI agents for various use cases. Based on partner discussions, the analyst summarized his conclusions. Near-term trends are improving, with July and August being better than May and June, Bracelin noted. Bracelin spoke with several ZoomInfo Technologies Inc ZI partners and direct customers, who indicated that more SMB churn could be on the company's horizon. During the formal investor session, management highlighted core tenets of the HubSpot platform, including ease of use, fast time to value, and a unified platform built organically, the analyst noted. The company discussed usage-based pricing for the first time, which could be on the horizon. Bracelin projected fiscal 2024 revenue of $2.57 billion and EPS of $7.66. Price Action: HUBS stock is up 4.86% at $528.52 at the last check on Thursday. Photo via Company Market News and Data brought to you by Benzinga APIs
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HubSpot Launches New AI, Breeze, Plus Hundreds of Product Updates at INBOUND 2024
HubSpot launched Breeze, its embedded AI with new Copilot and Agents; Breeze Intelligence for data enrichment; and updates to Marketing Hub and Content Hub that give marketers new tools for growth. In fact, most GTM teams: Are inefficient, switching between an average of 15 separate point solutions to just manage customer interactions. Aren't getting value from their tech stacks, according to nearly 80% of leaders. Are working with disconnected data, with 7 in 10 businesses feeling this pain. At INBOUND 2024 and in its Fall 2024 Spotlight, HubSpot revealed how it's changing this reality for marketing, sales, and service teams by doubling down on making its customer platform easy, fast, and unified. Everything is built so that GTM teams can unlock growth for their businesses. Featured releases include: Breeze, HubSpot's AI to power the customer platform. Breeze includes: Copilot, HubSpot's new AI companion to make work easier. Four Breeze Agents to get work done fast, from start to finish, including Content Agent, Social Media Agent, Prospecting Agent and Customer Agent. Plus 80 more features embedded across the platform, from remixing content to predicting sales forecasts. Breeze Intelligence, HubSpot's data enrichment and buyer intent solution. Breeze Intelligence includes: Data enrichment which pulls from a database of over 200 million buyer and company profiles to enrich company and contact records in HubSpot's Smart CRM. Buyer intent to help customers identify which prospects are best fit. Form shortening to increase conversion by automatically adding information Breeze Intelligence already knows. Updates to Marketing Hub and Content Hub, the combo that's giving marketers everything they need tovent, including: Tools to capture attention like Content Remix for video, which uses AI to turn a single video into a full campaign of clips, audio and written content. Tools to generate leads and convert prospects like Lead Scoring to find high engagement, high-fit prospects and Google Enhanced Conversions to leverage first-party conversion data from HubSpot to improve campaign performance. Tools to measure impact like the new Marketing Analytics Suite, which brings all marketing metrics and reporting in one place to improve campaigns and get results faster. Across all launches, HubSpot is doubling down on easy, fast and unified because this combination is proven to lead to growth: 89% of customers with a unified platform use it daily across marketing, sales, and service to generate 107% more leads, close 35% more deals, increase ticket resolution by 28%. And 8 out of 10 HubSpot customers see a return on investment in 3 months or less.
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HubSpot introduces Breeze, an AI-powered tool with copilot, agents and customer intelligence - SiliconANGLE
HubSpot introduces Breeze, an AI-powered tool with copilot, agents and customer intelligence Inbound marketing and customer relationship management platform HubSpot Inc. today introduced Breeze, the company's artificial intelligence. It underlies the entire customer solution for go-to-market teams designed with a copilot, automated AI agents and a unified view of customer management. Dylan Sellberg, director of product at HubSpot, told SiliconANGLE in an interview that although AI has promised to provide transformative value to customers and business at large, it hasn't gotten there quite yet. Part of the problem appeared to be because AI was difficult to use and it required a vast pool of data to work with. That's why HubSpot introduced Breeze, an easy-to-use AI companion and system integrated throughout the entire platform that takes advantage of the data, resources and context that the company's customers work with every day without requiring any technical expertise. "Breeze Copilot is a product that helps you use HubSpot more efficiently," said Sellberg. "It's your assistant. It's interwoven throughout the entire product. Copilot will exist on every page and every app as a panel that you can talk with, but also as an embedded element." Copilot can be summoned by marketing, sales and services teams as a chat-based AI to offer personalized insights and recommendations about leads, customers and engagements. It is aware of the full context of what's happening on the screen - including, for example, if there's a list page with 50 contacts on it. Many marketers or service reps might have this common behavior of opening 10 or 20 tabs and jumping between them. The AI can still read through all of them, summarize and compare all the information in them with just one prompt. Copilot is also embedded directly into pages as a context menu so users don't need to think about what to ask. They can just invoke it directly and receive a summary immediately about what they're looking at without any extra typing, which makes it easier to use. Breeze Intelligence helps provide a more complete view of customers by bringing in data from over 200 million company and buyer profiles. In beta now, this AI-powered solution assists service workers with building up contract records, discerning buyer intent and shortening otherwise long contact forms to avoid them being abandoned by users. "Data is typically hard to get about your customers," said Sellberg. "It can be scattered across the internet, different puzzle pieces, and when businesses can't put that together, they're not getting the full picture. Of course, businesses can get the data, but it's hard work." With the data enrichment capability, Intelligence gets the hard work out of the way with one click by adding missing portions of customer profiles directly from HubSpot's records including firmographic, demographic and technographic attributes that are continually refreshed. Using the buyer intent capacity, marketers can set their target market, identify buyer intent signals and use that to add likely high-intent companies to their HubSpot customer relationship profiles. The AI helps marketers make these identifications using signals such as page views and other intent metrics. All available in beta, Breeze includes four automated agents that will automate tasks to give marketing, sales and service teams AI experts capable of completing work rapidly with just a prompt and a few clicks. The Breeze Content Agent provides marketers with high-quality content such as landing pages for the web, blogs and full case studies written from start to finish using a customer's brand voice based on information from HubSpot's context. It also has podcasting capability where it can write a full script, or even generate a fully AI generated voiced podcast using seven different voices. The Social Media Agent allows users to create posts that fit into the company's brand across different networks that use the company's details, audience and industry. It can generate fitting posts, and prepare and schedule them for the proper times to garner the biggest impact. The Prospecting Agent can help marketers engage leads by researching and preparing personalized outreach messages to contacts and helping craft the right messages. The Customer Agent will take over customer-facing support based on an enterprise business service and product line. It can be trained in a few clicks based on a company's knowledge base, website and blog content so that it can start helping very quickly. Of course, it can't answer every single question, so when it runs into something too complex for it to handle, it can hand off to a human service worker with all the context of the original question asked by the customer and how it handled the initial contact.
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HubSpot introduces Breeze, an AI-powered tool, along with hundreds of product updates at INBOUND 2024. The company aims to revolutionize customer relationship management and boost business growth through AI integration.
HubSpot, a leading customer relationship management (CRM) platform, has unveiled a groundbreaking AI-powered tool called Breeze at its INBOUND 2024 event. This innovative solution is designed to help businesses streamline their operations and enhance customer engagement 1. Breeze integrates seamlessly with HubSpot's existing CRM platform, offering users a comprehensive suite of AI-driven features to optimize their marketing, sales, and customer service processes.
Breeze incorporates several cutting-edge AI capabilities, including:
In addition to Breeze, HubSpot announced hundreds of product updates at INBOUND 2024. These enhancements are aimed at improving the platform's functionality and user experience across various aspects of customer relationship management 4.
The introduction of Breeze and the accompanying product updates have been well-received by industry analysts. Canaccord Genuity, a financial services firm, has expressed a positive outlook on HubSpot's stock, citing the AI integration as a significant development 2.
Analysts predict that these AI innovations will help HubSpot gain market share and improve customer retention rates. The company's focus on AI-driven solutions is expected to strengthen its competitive position in the CRM market 3.
Yamini Rangan, CEO of HubSpot, emphasized the company's commitment to leveraging AI to empower businesses of all sizes. She stated, "With Breeze, we're making AI accessible and practical for our customers, helping them to grow better in an increasingly competitive landscape" 1.
HubSpot's approach to AI integration focuses on enhancing human capabilities rather than replacing them. The company aims to provide tools that augment human decision-making and creativity, allowing businesses to operate more efficiently and effectively in their customer relationships 4.
Reference
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