HashiCorp (NASDAQ:HCP) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of HashiCorp (NASDAQ:HCP) in a research note issued to investors on Monday. The brokerage set a “hold” rating on the stock.

A number of other analysts also recently weighed in on HCP. KeyCorp began coverage on HashiCorp in a report on Tuesday, March 19th. They issued a “sector weight” rating for the company. Stifel Nicolaus increased their price target on HashiCorp from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Bank of America lifted their price objective on HashiCorp from $28.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Oppenheimer reissued an “outperform” rating and set a $34.00 target price on shares of HashiCorp in a research report on Wednesday, March 6th. Finally, JMP Securities reiterated a “market outperform” rating and set a $38.00 price objective on shares of HashiCorp in a research report on Thursday, March 7th. Eleven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $30.77.

HashiCorp Trading Up 0.4 %

Shares of HCP stock opened at $33.39 on Monday. The firm has a market capitalization of $6.66 billion, a price-to-earnings ratio of -34.07 and a beta of 1.25. The business’s 50-day moving average price is $29.19 and its 200-day moving average price is $25.22. HashiCorp has a 12 month low of $18.91 and a 12 month high of $36.39.

HashiCorp (NASDAQ:HCP) last posted its earnings results on Tuesday, March 5th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.06. HashiCorp had a negative net margin of 32.70% and a negative return on equity of 15.58%. The business had revenue of $155.78 million for the quarter, compared to the consensus estimate of $149.47 million. On average, sell-side analysts predict that HashiCorp will post -0.8 earnings per share for the current fiscal year.

Insider Buying and Selling at HashiCorp

In other HashiCorp news, CFO Navam Welihinda sold 3,000 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $27.84, for a total transaction of $83,520.00. Following the transaction, the chief financial officer now owns 93,925 shares in the company, valued at $2,614,872. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $33.34, for a total transaction of $1,197,039.36. Following the transaction, the chief technology officer now owns 1,553,452 shares of the company’s stock, valued at $51,792,089.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Navam Welihinda sold 3,000 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $27.84, for a total value of $83,520.00. Following the sale, the chief financial officer now owns 93,925 shares of the company’s stock, valued at approximately $2,614,872. The disclosure for this sale can be found here. Over the last quarter, insiders sold 248,511 shares of company stock valued at $7,066,964. Company insiders own 22.49% of the company’s stock.

Institutional Trading of HashiCorp

Several institutional investors have recently made changes to their positions in HCP. Cetera Advisors LLC purchased a new position in shares of HashiCorp in the 1st quarter worth approximately $379,000. Washington Harbour Partners LP lifted its holdings in HashiCorp by 72.5% during the first quarter. Washington Harbour Partners LP now owns 78,500 shares of the company’s stock worth $2,116,000 after acquiring an additional 33,000 shares during the period. Comerica Bank boosted its position in HashiCorp by 2.1% in the first quarter. Comerica Bank now owns 18,432 shares of the company’s stock worth $497,000 after purchasing an additional 374 shares during the last quarter. California State Teachers Retirement System boosted its position in HashiCorp by 5.1% in the first quarter. California State Teachers Retirement System now owns 111,076 shares of the company’s stock worth $2,993,000 after purchasing an additional 5,372 shares during the last quarter. Finally, WPWealth LLP purchased a new stake in shares of HashiCorp during the 1st quarter valued at $437,000. Institutional investors own 87.83% of the company’s stock.

HashiCorp Company Profile

HashiCorp, Inc engages in the provision of multi-cloud infrastructure automation solutions worldwide. The company offers infrastructure provisioning products, including Terraform, that enables IT operations teams to apply an Infrastructure-as-Code approach, where processes and configuration required to support applications are codified and automated instead of being manual and ticket-based; Packer, that provides a consistent way to define the process of transforming the raw source inputs into a production worthy artifact, across any environment or packaging format; and Vagrant, that allows teams to define how development environments are set up.