What happened
HubSpot (HUBS 2.96%), a marketing-focused business services company, received a nice boost of 8.8% from Mr. Market on Monday. This followed the remarks of an analyst, who remains bullish on the company's prospects after interviewing one of the higher-tier HubSpot partners.
So what
Diligent Jefferies analyst Samad Samana conducted an interview with that partner, who was unnamed but identified as "diamond level" (the company has four partnership tiers; diamond was formerly the highest, and now it's No. 2).
Image source: Getty Images.
This partner had some encouraging news to report. According to Samara, "Our speaker noted that in 4Q [2021] his [HubSpot] business saw normal seasonal strength after a seasonally slower 3Q... . The business was at plan, with solid results in Oct/Nov and a slightly stronger Dec."
He added that over the course of 2021, the speaker's HubSpot business rose by around 30% to 40% year over year. This was due to "new customer [additions] and upselling/cross-selling existing customers additional Hubs and higher tiers."
The analyst drew several positive conclusions from this conversation. Samana believes it indicates that the mentioned quarterly robustness will be sustained for HubSpot throughout 2022. And, in a development that's more promising, overall deal sizes are continuing to rise.
Now what
This is indeed encouraging news for HubSpot investors. While not among the more popular tech stocks in 2021, the company has continued to assertively build out its business, and expand into new offerings as it does so.
For example, with its HubSpot Payments introduced late last year, it's dipping into the vast and frequently lucrative digital-payments sphere with a solution that plugs directly into its existing offerings.
