Canaccord Genuity Group Cuts HubSpot (NYSE:HUBS) Price Target to $700.00

HubSpot (NYSE:HUBS) had its price objective lowered by investment analysts at Canaccord Genuity Group from $750.00 to $700.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 19.22% from the stock’s previous close.

Several other research firms have also recently weighed in on HUBS. TD Cowen cut their price target on HubSpot from $700.00 to $680.00 and set a “buy” rating for the company in a report on Thursday. Royal Bank of Canada upped their price target on shares of HubSpot from $625.00 to $700.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. The Goldman Sachs Group lifted their price objective on shares of HubSpot from $577.00 to $656.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. UBS Group restated a “neutral” rating and set a $525.00 target price on shares of HubSpot in a research report on Thursday, February 15th. Finally, William Blair reiterated an “outperform” rating on shares of HubSpot in a research report on Thursday, February 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $637.27.

HubSpot Price Performance

Shares of HubSpot stock traded down $2.90 on Thursday, hitting $587.15. 2,071,452 shares of the company traded hands, compared to its average volume of 519,989. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.96 and a current ratio of 1.96. The business has a 50-day simple moving average of $628.65 and a 200 day simple moving average of $567.79. HubSpot has a 52 week low of $407.23 and a 52 week high of $693.85. The stock has a market capitalization of $29.89 billion, a P/E ratio of -165.29 and a beta of 1.57.

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

Insider Activity

In related news, insider Dawson Alyssa Harvey sold 1,086 shares of HubSpot stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $618.25, for a total value of $671,419.50. Following the completion of the sale, the insider now directly owns 7,783 shares in the company, valued at approximately $4,811,839.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Yamini Rangan sold 116 shares of the business’s 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 directly owns 88,861 shares in the company, valued at approximately $56,356,534.81. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Dawson Alyssa Harvey sold 1,086 shares of HubSpot stock in a transaction on Friday, February 16th. The shares were sold at an average price of $618.25, for a total transaction of $671,419.50. Following the completion of the transaction, the insider now directly owns 7,783 shares of the company’s stock, valued at approximately $4,811,839.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,393 shares of company stock worth $13,421,401. 4.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Riverview Trust Co acquired a new stake in shares of HubSpot in the first quarter valued at about $27,000. Rakuten Securities Inc. acquired a new position in HubSpot during the fourth quarter worth about $29,000. Geneos Wealth Management Inc. lifted its stake in HubSpot by 1,125.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 49 shares of the software maker’s stock worth $31,000 after purchasing an additional 45 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of HubSpot by 335.7% during the 4th quarter. Venturi Wealth Management LLC now owns 61 shares of the software maker’s stock worth $35,000 after purchasing an additional 47 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in shares of HubSpot by 1,380.0% in the fourth quarter. Larson Financial Group LLC now owns 74 shares of the software maker’s stock valued at $43,000 after purchasing an additional 69 shares in the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

About HubSpot

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.