HubSpot (NYSE:HUBS) Trading 6.2% Higher Following Analyst Upgrade

HubSpot, Inc. (NYSE:HUBS) shot up 6.2% on Monday after Barclays raised their price target on the stock from $650.00 to $725.00. Barclays currently has an equal weight rating on the stock. HubSpot traded as high as $762.00 and last traded at $772.00. 133,251 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 338,936 shares. The stock had previously closed at $726.61.

A number of other research analysts have also issued reports on HUBS. Truist Financial reiterated a “buy” rating and set a $750.00 price target (up from $600.00) on shares of HubSpot in a research note on Friday, November 8th. Canaccord Genuity Group boosted their target price on HubSpot from $600.00 to $710.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Piper Sandler cut HubSpot from an “overweight” rating to a “neutral” rating and raised their price target for the company from $570.00 to $640.00 in a report on Thursday, November 7th. Wells Fargo & Company lifted their price target on HubSpot from $750.00 to $810.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Finally, Stifel Nicolaus increased their price objective on HubSpot from $750.00 to $880.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $724.52.

Insider Activity at HubSpot

In related news, insider Brian Halligan sold 8,500 shares of HubSpot stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $661.59, for a total transaction of $5,623,515.00. Following the sale, the insider now owns 513,698 shares of the company’s stock, valued at $339,857,459.82. The trade was a 1.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kathryn Bueker sold 1,796 shares of HubSpot stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $701.59, for a total value of $1,260,055.64. Following the sale, the chief financial officer now directly owns 38,560 shares in the company, valued at approximately $27,053,310.40. The trade was a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,066 shares of company stock worth $54,900,427. Company insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On HubSpot

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP boosted its holdings in shares of HubSpot by 52.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,402,200 shares of the software maker’s stock valued at $745,410,000 after buying an additional 480,796 shares during the period. International Assets Investment Management LLC boosted its stake in HubSpot by 214,342.4% in the third quarter. International Assets Investment Management LLC now owns 126,521 shares of the software maker’s stock valued at $672,590,000 after acquiring an additional 126,462 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of HubSpot by 17.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 571,274 shares of the software maker’s stock valued at $303,689,000 after purchasing an additional 86,688 shares during the last quarter. TimesSquare Capital Management LLC raised its position in shares of HubSpot by 49.5% during the 3rd quarter. TimesSquare Capital Management LLC now owns 207,842 shares of the software maker’s stock worth $110,489,000 after purchasing an additional 68,827 shares during the period. Finally, Two Sigma Advisers LP grew its stake in HubSpot by 191.6% during the 3rd quarter. Two Sigma Advisers LP now owns 72,900 shares of the software maker’s stock worth $38,754,000 after buying an additional 47,900 shares during the last quarter. Institutional investors own 90.39% of the company’s stock.

HubSpot Stock Up 6.4 %

The business has a 50 day simple moving average of $716.86 and a 200-day simple moving average of $591.70. The company has a market capitalization of $39.91 billion, a P/E ratio of -2,857.26, a PEG ratio of 40.57 and a beta of 1.70.

HubSpot (NYSE:HUBS) last issued its quarterly earnings data on Wednesday, November 6th. The software maker reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.27. HubSpot had a negative return on equity of 1.16% and a negative net margin of 0.56%. The business had revenue of $669.72 million during the quarter, compared to the consensus estimate of $646.97 million. During the same period in the previous year, the firm posted ($0.04) earnings per share. The business’s revenue was up 20.1% on a year-over-year basis. Equities analysts forecast that HubSpot, Inc. will post 0.42 EPS for the current fiscal year.

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.