Canaccord Genuity Boosts HubSpot (NYSE:HUBS) Price Target to $830.00

HubSpot (NYSE:HUBS) had its target price upped by Canaccord Genuity from $685.00 to $830.00 in a report published on Wednesday morning, The Fly reports. They currently have a buy rating on the software maker’s stock.

HUBS has been the subject of several other reports. Needham & Company LLC boosted their target price on shares of HubSpot from $680.00 to $870.00 and gave the stock a buy rating in a research report on Wednesday. Piper Sandler boosted their price target on shares of HubSpot from $675.00 to $830.00 and gave the stock an overweight rating in a report on Wednesday. BMO Capital Markets boosted their price target on shares of HubSpot from $740.00 to $800.00 and gave the stock an outperform rating in a report on Wednesday. Bank of America restated a buy rating and set a $577.95 price target (down from $630.00) on shares of HubSpot in a report on Monday, July 26th. Finally, Royal Bank of Canada boosted their price target on shares of HubSpot from $610.00 to $925.00 and gave the stock an outperform rating in a report on Wednesday. Twenty-two equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, HubSpot presently has a consensus rating of Buy and an average target price of $763.48.

HUBS opened at $786.25 on Wednesday. HubSpot has a 1-year low of $283.87 and a 1-year high of $814.90. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.46. The company has a market cap of $36.96 billion, a P/E ratio of -422.71 and a beta of 1.67. The company has a fifty day moving average price of $682.63 and a two-hundred day moving average price of $586.89.

HubSpot (NYSE:HUBS) last posted its quarterly earnings results on Wednesday, August 4th. The software maker reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.11. The firm had revenue of $310.80 million during the quarter, compared to the consensus estimate of $296.01 million. HubSpot had a negative net margin of 7.98% and a negative return on equity of 7.35%. The business’s revenue was up 52.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 earnings per share. On average, research analysts forecast that HubSpot will post -1.5 EPS for the current fiscal year.

In related news, CTO Dharmesh Shah sold 9,327 shares of the company’s stock in a transaction that occurred on Tuesday, October 5th. The shares were sold at an average price of $651.85, for a total transaction of $6,079,804.95. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Brian Halligan sold 11,520 shares of the stock in a transaction on Tuesday, July 20th. The stock was sold at an average price of $555.13, for a total transaction of $6,395,097.60. Following the completion of the transaction, the chief executive officer now directly owns 662,873 shares in the company, valued at approximately $367,980,688.49. The disclosure for this sale can be found here. Insiders have sold a total of 33,567 shares of company stock worth $21,130,215 over the last 90 days. 6.00% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of the company. Capital CS Group LLC bought a new position in shares of HubSpot in the 3rd quarter worth $1,180,000. IFM Investors Pty Ltd increased its holdings in shares of HubSpot by 0.8% in the 3rd quarter. IFM Investors Pty Ltd now owns 5,883 shares of the software maker’s stock worth $3,977,000 after buying an additional 48 shares during the last quarter. Koshinski Asset Management Inc. bought a new position in shares of HubSpot in the 3rd quarter worth $120,000. Arden Trust Co bought a new position in shares of HubSpot in the 3rd quarter worth $863,000. Finally, Pensionfund DSM Netherlands bought a new position in shares of HubSpot in the 3rd quarter worth $507,000. 89.74% of the stock is currently owned by hedge funds and other institutional investors.

HubSpot Company Profile

HubSpot, Inc develops Internet marketing software solutions. The firm operates through the following geographical segments: Americas, Europe and Asia Pacific. The company was founded by Brian Patrick Halligan and Dharmesh Shah on April 4, 2005 and is headquartered in Cambridge, MA.

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