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Why HubSpot Stock Jumped Today

By Evan Niu, CFA - Apr 7, 2020 at 2:11PM

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The marketing tech company introduces a new product hub.

What happened

Shares of HubSpot (HUBS 3.28%) have jumped today, up by 10% as of 1:15 p.m. EDT, after the company announced  a new content-management system called CMS Hub. Meanwhile, the broader market is rallying on hope that the world is making progress battling the coronavirus.

So what

CMS Hub is designed to scale for growing businesses while streamlining website management. The offering comes in two tiers, Enterprise and Professional, which include different feature sets to cater to different needs. CMS Hub is the marketing tech company's latest product hub and revamps one of the most common tools that advertisers rely on.

Green stock chart going up

Image source: Getty Images.

"We wanted to build a content management system and a suite of tools that could stand on its own and take away the pain of content management, not only from the marketer but also from the developer and the people that help the site run," director of product management Angela DeFranco told TechCrunch.

Now what

The number of new coronavirus cases worldwide has declined, which is fueling investor optimism that the economy may start to return to normalcy sooner rather than later. HubSpot has reduced pricing for its Starter Growth Suite to help support small businesses through the crisis, among other actions the company is taking, like increasing the limits for certain communications offerings and providing more free tools for users.

Evan Niu, CFA has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends HubSpot. The Motley Fool has a disclosure policy.

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