Shares of HubSpot Inc. (HUBS) rose 11% to $183.12 after the company reported a loss that was less than analysts’ expectations.
The information-technology services company reported a second-quarter loss of $17.4 million, or 41 cents a share, compared to a loss of $18.2 million, or 48 cents a share, in the same period a year ago. Analysts polled by FactSet were looking for a loss of $21.5 million, or 49 cents a share.
HubSpot is a technology company that is disrupting the Customer Relationship Management software sector.
HubSpot was subsequently had an increase in its price target from $175 to $186 by Morgan Stanley.