Piper Sandler Cuts HubSpot (NYSE:HUBS) Price Target to $590.00

HubSpot (NYSE:HUBS) had its target price decreased by Piper Sandler from $675.00 to $590.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the software maker’s stock. Piper Sandler’s price target would suggest a potential upside of 26.95% from the company’s current price.

HUBS has been the topic of several other research reports. Bank of America dropped their target price on shares of HubSpot from $640.00 to $515.00 and set a “buy” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. lowered their price objective on shares of HubSpot from $775.00 to $675.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Citigroup increased their price objective on shares of HubSpot from $650.00 to $658.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Weiss Ratings restated a “sell (e+)” rating on shares of HubSpot in a research report on Tuesday, October 14th. Finally, Barclays lowered their price objective on shares of HubSpot from $745.00 to $675.00 and set an “overweight” rating on the stock in a research report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $683.39.

HubSpot Stock Performance

Shares of NYSE HUBS opened at $464.76 on Thursday. The firm’s 50 day moving average price is $478.42 and its 200-day moving average price is $529.75. The company has a market cap of $24.49 billion, a PE ratio of -2,020.70, a P/E/G ratio of 16.31 and a beta of 1.60. HubSpot has a 52-week low of $418.34 and a 52-week high of $881.13.

HubSpot (NYSE:HUBS) last issued its earnings results on Wednesday, August 6th. The software maker reported $2.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.07. The firm had revenue of $760.87 million for the quarter, compared to the consensus estimate of $739.94 million. HubSpot had a negative net margin of 0.42% and a positive return on equity of 1.74%. The business’s revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.94 earnings per share. On average, analysts forecast that HubSpot will post 1.01 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Yamini Rangan sold 2,387 shares of the stock in a transaction on Monday, October 6th. The shares were sold at an average price of $500.00, for a total value of $1,193,500.00. Following the completion of the sale, the chief executive officer directly owned 56,277 shares of the company’s stock, valued at $28,138,500. This represents a 4.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Dharmesh Shah sold 4,747 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $501.60, for a total transaction of $2,381,095.20. Following the completion of the sale, the chief technology officer directly owned 1,271,058 shares of the company’s stock, valued at approximately $637,562,692.80. This trade represents a 0.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 51,098 shares of company stock valued at $24,757,257. 4.00% of the stock is currently owned by company insiders.

Institutional Trading of HubSpot

Hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. grew its stake in HubSpot by 4.6% during the first quarter. Principal Financial Group Inc. now owns 28,755 shares of the software maker’s stock valued at $16,427,000 after acquiring an additional 1,276 shares in the last quarter. TD Private Client Wealth LLC grew its stake in HubSpot by 67,700.0% during the first quarter. TD Private Client Wealth LLC now owns 1,356 shares of the software maker’s stock valued at $775,000 after acquiring an additional 1,354 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in HubSpot by 42.8% during the first quarter. Crossmark Global Holdings Inc. now owns 444 shares of the software maker’s stock valued at $254,000 after acquiring an additional 133 shares in the last quarter. Greenleaf Trust purchased a new position in HubSpot during the first quarter valued at $204,000. Finally, Linden Thomas Advisory Services LLC grew its stake in HubSpot by 5.5% during the first quarter. Linden Thomas Advisory Services LLC now owns 2,703 shares of the software maker’s stock valued at $1,544,000 after acquiring an additional 141 shares in the last quarter. 90.39% of the stock is owned by hedge funds and other 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.