HubSpot shares plunged 22.07% over the 24-hour period ending Thursday, as the company's second-quarter results and forward guidance triggered a massive post-market selloff. While the company reported better-than-expected Q2 revenue and earnings, its outlook for the third quarter and full year fell short of Wall Street estimates, reigniting growth concerns.

For Q3, HubSpot guided adjusted EPS of $3.25-$3.27, well below the consensus of $3.45, and revenue of $924-$925 million, missing the $942.38 million estimate. Full-year revenue was also lowered to $3.678-$3.686 billion, compared to the consensus of $3.71 billion. The disappointing guidance overshadowed a $1 billion share buyback authorization and a Q2 beat.

Investor sentiment was further weighed down by ongoing worries about the company's agent-first go-to-market strategy transformation, which analysts have flagged as an execution risk. Multiple analysts downgraded the stock or cut price targets, with Piper Sandler lowering its rating to Neutral and Canaccord Genuity reducing its target to $300, reflecting growing caution about HubSpot's growth trajectory.