What happened Shares of HubSpot (NYSE: HUBS) climbed 18.6% in May, according to data from S&P Global Market Intelligence. Last month's double-digit gains followed a 26.6% increase for the company's share price in April. ^SPX data by YCharts. HubSpot stock jumped after the company posted better-than-expected first-quarter results on May 6, and continued to rise amid momentum for the broader market as the month progressed. Non-GAAP (adjusted) earnings per share fell roughly 3% year over year to land at $0.35 per share, but sales jumped 31% to hit $199 million. The average analyst target had called for adjusted per-share earnings of $0.23 on revenue of $190.9 million. Image source: Getty Images. So what HubSpot's strong first-quarter performance stemmed from new customer additions driving big growth for subscription services. Subscription revenue climbed 33% year over year in the first quarter, reaching $191.2 million. Total customers on HubSpot's platform went up 30% year over year to hit 78,776, and total subscription revenue per customer rose 2% year over year to $10,018. Sales for the company's professional services segment reached $7.7 million, inching up 2% compared to the prior year. Now what HubSpot stock, which has continued to gain ground early in June, is up roughly 6% so far. ^SPX data by YCharts. HubSpot will hold its annual meeting for shareholders virtually on June 17. The company is guiding for second-quarter revenue between $195 million and $196 million and adjusted earnings per share be between $0.23 and $0.25 for the period. For the full-year period, management expects to post adjusted earnings per share between $0.88 and $0.92 on revenue of $800 million to $810 million. However, it has warned that uncertainty related to conditions created by the novel coronavirus pandemic could result in significant modifications to performance targets -- for better or worse. HubSpot is valued at roughly 11.5 times the average analyst target for this year's sales. 10 stocks we like better than HubSpotWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and HubSpot wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of April 16, 2020 Keith Noonan 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.Source