HubSpot (NYSE:HUBS) Given New $900.00 Price Target at Citigroup

HubSpot (NYSE:HUBS) had its target price boosted by investment analysts at Citigroup from $750.00 to $900.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Citigroup’s price objective would indicate a potential upside of 12.15% from the stock’s previous close.

Several other brokerages have also recently weighed in on HUBS. BMO Capital Markets upped their price target on HubSpot from $570.00 to $690.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Royal Bank of Canada boosted their target price on shares of HubSpot from $750.00 to $825.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Truist Financial reiterated a “buy” rating and issued a $750.00 price target (up from $600.00) on shares of HubSpot in a research note on Friday, November 8th. Oppenheimer boosted their price objective on shares of HubSpot from $625.00 to $740.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Stifel Nicolaus upped their price objective on shares of HubSpot from $750.00 to $880.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Six research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, HubSpot presently has an average rating of “Moderate Buy” and an average target price of $747.92.

HubSpot Stock Performance

NYSE HUBS opened at $802.51 on Tuesday. The stock has a market cap of $41.43 billion, a P/E ratio of -2,972.16, a price-to-earnings-growth ratio of 43.94 and a beta of 1.72. HubSpot has a fifty-two week low of $434.84 and a fifty-two week high of $811.79. The stock has a 50 day simple moving average of $729.04 and a two-hundred day simple moving average of $612.33.

Insiders Place Their Bets

In other HubSpot news, CTO Dharmesh Shah sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $672.62, for a total value of $16,815,500.00. Following the completion of the transaction, the chief technology officer now directly owns 1,323,145 shares in the company, valued at $889,973,789.90. This represents a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brian Halligan sold 8,500 shares of the firm’s 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 in the company, valued at $339,857,459.82. The trade was a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 73,112 shares of company stock valued at $51,432,627. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On HubSpot

Institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP grew its position in shares of HubSpot by 52.2% during the third quarter. Wellington Management Group LLP now owns 1,402,200 shares of the software maker’s stock worth $745,410,000 after purchasing an additional 480,796 shares in the last quarter. Geode Capital Management LLC grew its holdings in HubSpot by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 820,483 shares of the software maker’s stock valued at $435,184,000 after buying an additional 19,974 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of HubSpot by 3.8% in the fourth quarter. Bank of New York Mellon Corp now owns 674,523 shares of the software maker’s stock worth $469,987,000 after buying an additional 24,799 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in 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 acquiring an additional 86,688 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in HubSpot by 8.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 527,061 shares of the software maker’s stock valued at $280,186,000 after acquiring an additional 40,138 shares during the last quarter. 90.39% of the stock is owned by institutional investors.

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.