HubSpot (NYSE:HUBS) Given New $675.00 Price Target at Raymond James

HubSpot (NYSE:HUBS) had its price objective decreased by Raymond James from $725.00 to $675.00 in a report published on Thursday, Benzinga reports. Raymond James currently has an outperform rating on the software maker’s stock.

A number of other analysts have also commented on the stock. UBS Group lowered their target price on shares of HubSpot from $580.00 to $550.00 and set a neutral rating for the company in a report on Thursday. Bank of America lowered their target price on shares of HubSpot from $650.00 to $580.00 and set a buy rating for the company in a report on Thursday. Truist Financial reaffirmed a buy rating and set a $600.00 target price (down previously from $700.00) on shares of HubSpot in a report on Thursday. Piper Sandler reaffirmed an overweight rating and set a $570.00 target price on shares of HubSpot in a report on Thursday. Finally, Canaccord Genuity Group reduced their price target on shares of HubSpot from $700.00 to $600.00 and set a buy rating on the stock in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat.com, HubSpot has an average rating of Moderate Buy and a consensus target price of $610.52.

HubSpot Price Performance

Shares of HubSpot stock traded down $3.65 during midday trading on Thursday, reaching $472.70. The company had a trading volume of 600,116 shares, compared to its average volume of 654,662. The stock has a fifty day simple moving average of $536.09 and a 200 day simple moving average of $590.11. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.32. HubSpot has a 1-year low of $407.23 and a 1-year high of $693.85. The company has a market capitalization of $24.09 billion, a price-to-earnings ratio of -178.38 and a beta of 1.60.

HubSpot (NYSE:HUBS) last released its earnings results on Wednesday, May 8th. The software maker reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.27. HubSpot had a negative net margin of 5.78% and a negative return on equity of 4.94%. The firm had revenue of $617.41 million during the quarter, compared to analyst estimates of $597.12 million. As a group, equities research analysts forecast that HubSpot will post -0.44 earnings per share for the current year.

Insider Activity at HubSpot

In related news, CTO Dharmesh Shah sold 25,000 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $586.85, for a total value of $14,671,250.00. Following the sale, the chief technology officer now directly owns 1,348,929 shares of the company’s stock, valued at approximately $791,618,983.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other HubSpot news, insider Dawson Alyssa Harvey sold 384 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $467.23, for a total transaction of $179,416.32. Following the sale, the insider now directly owns 9,735 shares of the company’s stock, valued at approximately $4,548,484.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Dharmesh Shah sold 25,000 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $586.85, for a total transaction of $14,671,250.00. Following the sale, the chief technology officer now directly owns 1,348,929 shares in the company, valued at $791,618,983.65. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,875 shares of company stock valued at $26,879,025. 4.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On HubSpot

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in HubSpot by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 4,829,488 shares of the software maker’s stock worth $3,025,964,000 after buying an additional 39,098 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of HubSpot by 10.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,933,629 shares of the software maker’s stock worth $1,211,535,000 after purchasing an additional 176,336 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of HubSpot by 50.3% during 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 purchasing an additional 626,977 shares during the last quarter. Jennison Associates LLC increased its stake in shares of HubSpot by 62.1% during the 1st quarter. Jennison Associates LLC now owns 1,577,511 shares of the software maker’s stock worth $988,406,000 after purchasing an additional 604,554 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of HubSpot during the 4th quarter worth about $311,236,000. 90.39% of the stock is owned by institutional investors.

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.