HubSpot (NYSE:HUBS) Price Target Cut to $650.00 by Analysts at Truist Financial

HubSpot (NYSE:HUBS) had its price objective decreased by investment analysts at Truist Financial from $675.00 to $650.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. Truist Financial’s price objective suggests a potential upside of 60.89% from the stock’s current price.

Several other equities research analysts have also recently weighed in on HUBS. Canaccord Genuity Group reduced their price target on HubSpot from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Thursday. Weiss Ratings reiterated a “sell (e+)” rating on shares of HubSpot in a report on Tuesday, October 14th. UBS Group set a $500.00 price objective on HubSpot in a research note on Friday. Raymond James Financial cut their target price on HubSpot from $825.00 to $655.00 and set an “outperform” rating on the stock in a research note on Thursday, August 7th. Finally, Evercore ISI set a $500.00 price target on shares of HubSpot in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, HubSpot presently has an average rating of “Moderate Buy” and a consensus target price of $626.50.

HubSpot Price Performance

HubSpot stock traded up $9.05 during trading hours on Friday, reaching $404.00. The company had a trading volume of 863,760 shares, compared to its average volume of 774,466. The firm has a market cap of $21.29 billion, a price-to-earnings ratio of -5,066.30, a P/E/G ratio of 16.06 and a beta of 1.60. HubSpot has a 12-month low of $375.01 and a 12-month high of $881.13. The company has a 50-day moving average price of $476.80 and a 200 day moving average price of $528.82.

HubSpot (NYSE:HUBS) last posted its earnings results on Thursday, November 6th. The software maker reported $2.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.08. HubSpot had a positive return on equity of 1.19% and a negative net margin of 0.12%.The company had revenue of $809.52 million for the quarter, compared to analysts’ expectations of $786.80 million. During the same period last year, the firm earned $2.18 earnings per share. HubSpot’s quarterly revenue was up 20.9% on a year-over-year basis. As a group, research analysts expect that HubSpot will post 1.01 earnings per share for the current year.

Insider Buying and Selling at HubSpot

In related news, CTO Dharmesh Shah sold 17,253 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $500.66, for a total transaction of $8,637,886.98. Following the completion of the transaction, the chief technology officer directly owned 1,275,805 shares in the company, valued at approximately $638,744,531.30. The trade was a 1.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brian Halligan sold 8,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $449.84, for a total transaction of $3,823,640.00. Following the sale, the director owned 522,435 shares in the company, valued at approximately $235,012,160.40. The trade was a 1.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 51,098 shares of company stock valued at $24,757,257 over the last three months. Insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Goodman Advisory Group LLC bought a new stake in HubSpot during the 2nd quarter valued at approximately $27,000. Whittier Trust Co. boosted its stake in HubSpot by 136.4% during the second quarter. Whittier Trust Co. now owns 52 shares of the software maker’s stock valued at $29,000 after buying an additional 30 shares during the last quarter. Exane Asset Management bought a new position in HubSpot during the third quarter valued at approximately $30,000. Rakuten Securities Inc. increased its stake in HubSpot by 783.3% in the 2nd quarter. Rakuten Securities Inc. now owns 53 shares of the software maker’s stock worth $30,000 after acquiring an additional 47 shares during the last quarter. Finally, Hilltop National Bank purchased a new stake in shares of HubSpot during the 2nd quarter worth approximately $32,000. Institutional investors own 90.39% of the company’s stock.

HubSpot Company Profile

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.