StockNews.com Upgrades HashiCorp (NASDAQ:HCP) to Hold

StockNews.com upgraded shares of HashiCorp (NASDAQ:HCP) from a sell rating to a hold rating in a report issued on Tuesday morning.

A number of other equities analysts have also weighed in on HCP. Needham & Company LLC lifted their price target on shares of HashiCorp from $27.00 to $30.00 and gave the company a buy rating in a report on Monday, March 4th. KeyCorp started coverage on shares of HashiCorp in a research note on Tuesday, March 19th. They issued a sector weight rating on the stock. Piper Sandler reissued a neutral rating and issued a $25.00 target price (up previously from $22.00) on shares of HashiCorp in a research note on Wednesday, March 6th. BTIG Research raised their target price on shares of HashiCorp from $25.00 to $27.00 and gave the company a buy rating in a research note on Wednesday, March 6th. Finally, Scotiabank raised shares of HashiCorp from a sector perform rating to a sector outperform rating and set a $31.00 target price on the stock in a research note on Tuesday, March 12th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, HashiCorp currently has an average rating of Moderate Buy and a consensus target price of $28.77.

HashiCorp Trading Up 1.4 %

Shares of HCP opened at $23.97 on Tuesday. The firm’s 50-day moving average is $25.48 and its two-hundred day moving average is $23.18. HashiCorp has a twelve month low of $18.91 and a twelve month high of $36.39. The firm has a market capitalization of $4.78 billion, a P/E ratio of -24.46 and a beta of 1.42.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.06. HashiCorp had a negative net margin of 32.70% and a negative return on equity of 15.58%. The company had revenue of $155.78 million for the quarter, compared to the consensus estimate of $149.47 million. Analysts predict that HashiCorp will post -0.8 EPS for the current year.

Insider Buying and Selling

In other news, CMO Marc Holmes sold 13,916 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $26.30, for a total transaction of $365,990.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CMO Marc Holmes sold 13,916 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $26.30, for a total transaction of $365,990.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $25.69, for a total transaction of $922,373.76. Following the transaction, the chief technology officer now directly owns 1,661,164 shares in the company, valued at $42,675,303.16. The disclosure for this sale can be found here. Insiders have sold 262,577 shares of company stock worth $6,484,004 in the last ninety days. 26.13% of the stock is currently owned by corporate insiders.

Institutional Trading of HashiCorp

Several large investors have recently added to or reduced their stakes in the business. Citigroup Inc. raised its stake in shares of HashiCorp by 167.6% in the 4th quarter. Citigroup Inc. now owns 918 shares of the company’s stock valued at $25,000 after buying an additional 575 shares in the last quarter. Geneos Wealth Management Inc. bought a new position in shares of HashiCorp in the 1st quarter valued at about $33,000. Tower Research Capital LLC TRC boosted its stake in shares of HashiCorp by 82.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,692 shares of the company’s stock valued at $39,000 after purchasing an additional 766 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of HashiCorp by 94.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,761 shares of the company’s stock valued at $40,000 after acquiring an additional 857 shares during the period. Finally, Osaic Holdings Inc. raised its position in shares of HashiCorp by 188.1% in the 2nd quarter. Osaic Holdings Inc. now owns 1,769 shares of the company’s stock valued at $46,000 after acquiring an additional 1,155 shares during the period. 87.83% of the stock is owned by institutional investors.

HashiCorp Company Profile

HashiCorp, Inc engages in the provision of multi-cloud infrastructure automation solutions worldwide. The company offers infrastructure provisioning products, including Terraform, that enables IT operations teams to apply an Infrastructure-as-Code approach, where processes and configuration required to support applications are codified and automated instead of being manual and ticket-based; Packer, that provides a consistent way to define the process of transforming the raw source inputs into a production worthy artifact, across any environment or packaging format; and Vagrant, that allows teams to define how development environments are set up.