HashiCorp (NASDAQ:HCP) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of HashiCorp (NASDAQ:HCP) in a research note issued to investors on Wednesday morning. The brokerage issued a hold rating on the stock.

Other equities analysts have also issued reports about the stock. Bank of America lifted their price objective on shares of HashiCorp from $28.00 to $32.00 and gave the company a neutral rating in a research report on Wednesday, April 24th. Oppenheimer reiterated an outperform rating and set a $34.00 price target on shares of HashiCorp in a research note on Wednesday, March 6th. JMP Securities restated a market perform rating on shares of HashiCorp in a research report on Thursday, June 6th. Scotiabank reiterated a sector perform rating and set a $35.00 target price (up previously from $31.00) on shares of HashiCorp in a research report on Thursday, April 25th. Finally, Piper Sandler raised their price target on HashiCorp from $25.00 to $35.00 and gave the company a neutral rating in a report on Thursday, April 25th. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, HashiCorp has a consensus rating of Hold and an average price target of $31.17.

HashiCorp Stock Up 0.6 %

Shares of NASDAQ HCP opened at $33.69 on Wednesday. The business has a 50-day moving average price of $32.97 and a 200 day moving average price of $27.29. The stock has a market cap of $6.77 billion, a PE ratio of -35.09 and a beta of 1.25. HashiCorp has a 52-week low of $18.91 and a 52-week high of $34.05.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings data on Thursday, May 30th. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.02. HashiCorp had a negative net margin of 31.13% and a negative return on equity of 14.27%. The company had revenue of $160.58 million for the quarter, compared to analyst estimates of $153.39 million. Sell-side analysts anticipate that HashiCorp will post -0.8 earnings per share for the current year.

Insider Activity

In other HashiCorp news, Director Sigal Zarmi sold 4,350 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $30.00, for a total transaction of $130,500.00. Following the sale, the director now owns 37,991 shares in the company, valued at approximately $1,139,730. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other HashiCorp news, Director Sigal Zarmi sold 4,350 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $30.00, for a total value of $130,500.00. Following the sale, the director now directly owns 37,991 shares of the company’s stock, valued at approximately $1,139,730. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $25.69, for a total transaction of $922,373.76. Following the completion of the sale, 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 395,170 shares of company stock worth $12,439,765 over the last ninety days. 22.49% of the stock is currently owned by insiders.

Institutional Investors Weigh In On HashiCorp

A number of institutional investors have recently added to or reduced their stakes in the company. Cetera Advisors LLC purchased a new position in shares of HashiCorp in the 1st quarter worth about $379,000. Washington Harbour Partners LP increased its position in HashiCorp by 72.5% during the 1st quarter. Washington Harbour Partners LP now owns 78,500 shares of the company’s stock worth $2,116,000 after purchasing an additional 33,000 shares in the last quarter. Comerica Bank lifted its position in HashiCorp by 2.1% during the first quarter. Comerica Bank now owns 18,432 shares of the company’s stock valued at $497,000 after buying an additional 374 shares in the last quarter. California State Teachers Retirement System lifted its position in HashiCorp by 5.1% during the first quarter. California State Teachers Retirement System now owns 111,076 shares of the company’s stock valued at $2,993,000 after buying an additional 5,372 shares in the last quarter. Finally, WPWealth LLP purchased a new stake in HashiCorp during the first quarter worth approximately $437,000. Hedge funds and other institutional investors own 87.83% of the company’s stock.

About HashiCorp

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.