HashiCorp (NASDAQ:HCP) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of HashiCorp (NASDAQ:HCP) in a research report released on Wednesday. The brokerage issued a hold rating on the stock.

Other analysts also recently issued reports about the stock. Scotiabank reiterated a sector perform rating and issued a $35.00 price objective (up from $31.00) on shares of HashiCorp in a report on Thursday, April 25th. Piper Sandler lifted their price objective on shares of HashiCorp from $25.00 to $35.00 and gave the company a neutral rating in a report on Thursday, April 25th. Bank of America boosted their target price on shares of HashiCorp from $28.00 to $32.00 and gave the stock a neutral rating in a report on Wednesday, April 24th. JMP Securities reiterated a market perform rating on shares of HashiCorp in a research note on Thursday, June 6th. Finally, Truist Financial restated a hold rating and set a $35.00 price objective (up from $27.00) on shares of HashiCorp in a research note on Thursday, April 25th. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, HashiCorp currently has a consensus rating of Hold and an average price target of $31.17.

HashiCorp Price Performance

HCP traded up $0.07 during trading on Wednesday, reaching $33.67. The company had a trading volume of 1,890,718 shares, compared to its average volume of 3,563,273. HashiCorp has a 12 month low of $18.91 and a 12 month high of $34.05. The business’s fifty day moving average price is $33.60 and its 200 day moving average price is $29.52. The company has a market cap of $6.77 billion, a P/E ratio of -35.07 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings results on Thursday, May 30th. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.02. HashiCorp had a negative net margin of 31.13% and a negative return on equity of 14.27%. The firm had revenue of $160.58 million for the quarter, compared to analyst estimates of $153.39 million. As a group, sell-side analysts predict that HashiCorp will post -0.8 EPS for the current fiscal year.

Insider Activity

In related news, CEO David Mcjannet sold 48,055 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $33.26, for a total transaction of $1,598,309.30. Following the transaction, the chief executive officer now directly owns 373,330 shares of the company’s stock, valued at $12,416,955.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO David Mcjannet sold 48,055 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $33.26, for a total transaction of $1,598,309.30. Following the transaction, the chief executive officer now directly owns 373,330 shares of the company’s stock, valued at $12,416,955.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Sigal Zarmi sold 975 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $33.60, for a total transaction of $32,760.00. Following the transaction, the director now directly owns 37,546 shares in the company, valued at $1,261,545.60. The disclosure for this sale can be found here. Insiders have sold 392,820 shares of company stock valued at $13,143,824 over the last ninety days. 22.49% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On HashiCorp

A number of hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC grew its stake in HashiCorp by 60.2% during the second quarter. Renaissance Technologies LLC now owns 1,071,800 shares of the company’s stock worth $36,109,000 after buying an additional 402,800 shares in the last quarter. Alpine Associates Management Inc. acquired a new stake in HashiCorp during the second quarter worth about $48,541,000. American Century Companies Inc. acquired a new stake in HashiCorp during the second quarter worth about $283,000. EDBI Pte Ltd acquired a new stake in HashiCorp during the second quarter worth about $219,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in HashiCorp during the second quarter worth about $246,000. 87.83% of the stock is owned by institutional investors.

About HashiCorp

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.