KeyCorp Upgrades HubSpot (NYSE:HUBS) to “Sector Weight”

HubSpot (NYSE:HUBS) was upgraded by KeyCorp from an “underweight” rating to a “sector weight” rating in a report issued on Thursday, MarketBeat.com reports. The brokerage presently has a $460.00 target price on the software maker’s stock. KeyCorp’s price objective would indicate a potential downside of 2.67% from the company’s current price.

A number of other analysts have also recently issued reports on HUBS. Wells Fargo & Company lowered their price objective on HubSpot from $750.00 to $650.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Piper Sandler dropped their price objective on shares of HubSpot from $655.00 to $570.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Mizuho decreased their target price on shares of HubSpot from $700.00 to $650.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Barclays dropped their price target on shares of HubSpot from $600.00 to $575.00 and set an “equal weight” rating for the company in a research report on Thursday, May 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $730.00 price objective on shares of HubSpot in a report on Thursday, May 9th. Five research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $610.52.

HubSpot Stock Performance

HubSpot stock traded down $3.74 during mid-day trading on Thursday, reaching $472.61. The company had a trading volume of 600,231 shares, compared to its average volume of 654,662. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.32. The firm has a market cap of $24.09 billion, a price-to-earnings ratio of -178.34 and a beta of 1.60. The company has a 50 day moving average of $536.09 and a 200-day moving average of $590.11. HubSpot has a 52 week low of $407.23 and a 52 week high of $693.85.

HubSpot (NYSE:HUBS) last released its earnings results on Wednesday, August 7th. The software maker reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.30. HubSpot had a negative net margin of 5.78% and a negative return on equity of 4.94%. The business had revenue of $637.20 million during the quarter, compared to analysts’ expectations of $619.28 million. During the same quarter last year, the company earned ($1.17) earnings per share. The firm’s revenue was up 20.4% on a year-over-year basis. On average, sell-side analysts expect that HubSpot will post -0.44 EPS for the current fiscal year.

Insider Transactions at HubSpot

In other HubSpot news, insider Dawson Alyssa Harvey sold 384 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $467.23, for a total transaction of $179,416.32. Following the completion of 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other HubSpot news, insider Dawson Alyssa Harvey sold 384 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $467.23, for a total value of $179,416.32. Following the transaction, the insider now directly owns 9,735 shares of the company’s stock, valued at $4,548,484.05. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Dharmesh Shah sold 25,000 shares of HubSpot stock in a transaction on 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 of the company’s stock, valued at approximately $791,618,983.65. The disclosure for this sale can be found here. Insiders sold a total of 46,875 shares of company stock worth $26,879,025 over the last 90 days. 4.50% of the stock is owned by insiders.

Hedge Funds Weigh In On HubSpot

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of HubSpot by 0.8% during the first quarter. Vanguard Group Inc. now owns 4,829,488 shares of the software maker’s stock worth $3,025,964,000 after purchasing an additional 39,098 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in HubSpot by 10.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,933,629 shares of the software maker’s stock valued at $1,211,535,000 after acquiring an additional 176,336 shares during the period. Wellington Management Group LLP increased its holdings in shares of HubSpot by 50.3% in the fourth quarter. Wellington Management Group LLP now owns 1,874,322 shares of the software maker’s stock worth $1,088,119,000 after acquiring an additional 626,977 shares in the last quarter. Jennison Associates LLC raised its position in shares of HubSpot by 62.1% during the first 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 period. Finally, Norges Bank acquired a new stake in shares of HubSpot during the fourth quarter worth about $311,236,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

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.