HubSpot (NYSE:HUBS) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of HubSpot (NYSE:HUBS) in a report released on Monday morning, Benzinga reports. The brokerage currently has a $730.00 price objective on the software maker’s stock.

Several other brokerages also recently weighed in on HUBS. Evercore ISI decreased their price target on HubSpot from $650.00 to $550.00 and set an “in-line” rating for the company in a report on Thursday, August 8th. UBS Group reduced their target price on HubSpot from $580.00 to $550.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Raymond James reduced their target price on HubSpot from $725.00 to $675.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $700.00 target price on shares of HubSpot in a report on Thursday, September 19th. Finally, Piper Sandler reissued an “overweight” rating and issued a $570.00 target price on shares of HubSpot in a report on Thursday, September 19th. Four investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, HubSpot presently has a consensus rating of “Moderate Buy” and an average price target of $611.83.

HubSpot Price Performance

Shares of NYSE HUBS opened at $531.35 on Monday. The stock has a fifty day moving average price of $509.80 and a 200 day moving average price of $555.70. HubSpot has a 1-year low of $407.23 and a 1-year high of $693.85. The company has a market cap of $27.08 billion, a PE ratio of -200.51, a P/E/G ratio of 7,193.98 and a beta of 1.64.

HubSpot (NYSE:HUBS) last issued its quarterly earnings results on Wednesday, August 7th. The software maker reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.30. HubSpot had a negative return on equity of 2.33% and a negative net margin of 1.15%. The firm had revenue of $637.20 million during the quarter, compared to the consensus estimate of $619.28 million. During the same period last year, the company earned ($1.17) earnings per share. The company’s revenue for the quarter was up 20.4% on a year-over-year basis.

Insider Activity

In other news, insider Dawson Alyssa Harvey sold 384 shares of HubSpot stock in a transaction dated Friday, August 2nd. The stock was 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Dawson Alyssa Harvey sold 384 shares of HubSpot stock in a transaction dated Friday, August 2nd. The stock was 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Yamini Rangan sold 116 shares of HubSpot stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $491.19, for a total value of $56,978.04. Following the completion of the transaction, the chief executive officer now directly owns 67,203 shares in the company, valued at $33,009,441.57. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,321 shares of company stock valued at $3,374,089 in the last three months. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On HubSpot

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Harbour Capital Advisors LLC increased its holdings in HubSpot by 1.1% during the 3rd quarter. Harbour Capital Advisors LLC now owns 8,397 shares of the software maker’s stock worth $4,543,000 after purchasing an additional 88 shares during the last quarter. Wolff Wiese Magana LLC increased its holdings in HubSpot by 19.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 395 shares of the software maker’s stock worth $210,000 after purchasing an additional 64 shares during the last quarter. Cabot Wealth Management Inc. purchased a new stake in HubSpot during the 3rd quarter worth approximately $1,721,000. Swedbank AB increased its holdings in HubSpot by 1.7% during the 3rd quarter. Swedbank AB now owns 26,361 shares of the software maker’s stock worth $14,014,000 after purchasing an additional 441 shares during the last quarter. Finally, Creative Planning increased its holdings in HubSpot by 10.7% during the 3rd quarter. Creative Planning now owns 6,706 shares of the software maker’s stock worth $3,565,000 after purchasing an additional 650 shares during 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.