HubSpot’s (HUBS) “Buy” Rating Reiterated at Needham & Company LLC

HubSpot (NYSE:HUBS)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a report released on Thursday, Benzinga reports. They currently have a $730.00 price objective on the software maker’s stock. Needham & Company LLC’s price target indicates a potential upside of 23.85% from the company’s current price.

A number of other equities research analysts also recently issued reports on HUBS. Canaccord Genuity Group lifted their price target on shares of HubSpot from $700.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Wolfe Research boosted their target price on HubSpot from $660.00 to $715.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. Evercore ISI boosted their price objective on shares of HubSpot from $625.00 to $650.00 and gave the stock an “in-line” rating in a research report on Thursday, February 15th. The Goldman Sachs Group increased their price objective on shares of HubSpot from $577.00 to $656.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Finally, Truist Financial upped their price target on shares of HubSpot from $600.00 to $700.00 and gave the company a “buy” rating in a report on Thursday, February 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $640.56.

HubSpot Price Performance

Shares of NYSE HUBS opened at $589.43 on Thursday. The company has a market cap of $30.01 billion, a PE ratio of -166.04 and a beta of 1.57. HubSpot has a 1-year low of $407.23 and a 1-year high of $693.85. The stock has a fifty day moving average price of $628.65 and a 200 day moving average price of $567.79. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.96 and a quick ratio of 1.96.

HubSpot (NYSE:HUBS) last posted its quarterly earnings results on Wednesday, February 14th. The software maker reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.22. HubSpot had a negative return on equity of 6.38% and a negative net margin of 8.12%. The business had revenue of $581.91 million during the quarter, compared to analysts’ expectations of $557.48 million. Sell-side analysts forecast that HubSpot will post -0.98 EPS for the current year.

Insider Activity at HubSpot

In other HubSpot news, CEO Yamini Rangan sold 116 shares of HubSpot stock in a transaction on Monday, March 4th. The shares were sold at an average price of $634.21, for a total value of $73,568.36. Following the completion of the transaction, the chief executive officer now owns 88,861 shares of the company’s stock, valued at $56,356,534.81. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Brian Halligan sold 8,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $636.18, for a total value of $5,407,530.00. Following the sale, the insider now directly owns 526,041 shares in the company, valued at approximately $334,656,763.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Yamini Rangan sold 116 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $634.21, for a total value of $73,568.36. Following the transaction, the chief executive officer now owns 88,861 shares of the company’s stock, valued at approximately $56,356,534.81. The disclosure for this sale can be found here. Insiders sold a total of 21,393 shares of company stock valued at $13,421,401 over the last three months. 4.90% of the stock is owned by insiders.

Institutional Investors Weigh In On HubSpot

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of HubSpot by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 4,790,390 shares of the software maker’s stock valued at $2,781,013,000 after acquiring an additional 119,999 shares during the period. JPMorgan Chase & Co. increased its position in shares of HubSpot by 6.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,716,774 shares of the software maker’s stock valued at $1,338,012,000 after purchasing an additional 166,381 shares during the period. Wellington Management Group LLP raised its stake in shares of HubSpot by 50.3% in the 4th quarter. Wellington Management Group LLP now owns 1,874,322 shares of the software maker’s stock worth $1,088,119,000 after buying an additional 626,977 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of HubSpot by 62.1% in the first quarter. Jennison Associates LLC now owns 1,577,511 shares of the software maker’s stock valued at $988,406,000 after buying an additional 604,554 shares during the period. Finally, Norges Bank bought a new position in HubSpot during the fourth quarter valued at about $311,236,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

HubSpot Company Profile

HubSpot, Inc, together with its subsidiaries, provides a cloud-based customer relationship management (CRM) platform for businesses in the Americas, Europe, and the Asia Pacific. The company's CRM platform includes Marketing Hub, a toolset for marketing automation and email, social media, SEO, and reporting and analytics; Sales Hub offers email templates and tracking, conversations and live chat, meeting and call scheduling, lead and website visit alerts, lead scoring, sales automation, pipeline management, quoting, forecasting, and reporting; Service Hub, a service software designed to help businesses manage, respond, and connect with customers; and Content Management Systems Hub enables businesses to create new and edit existing web content.