Wells Fargo & Company Cuts HubSpot (NYSE:HUBS) Price Target to $650.00

HubSpot (NYSE:HUBS) had its price target reduced by stock analysts at Wells Fargo & Company from $750.00 to $650.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the software maker’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 33.01% from the company’s current price.

Several other research firms also recently weighed in on HUBS. Barclays dropped their price target on HubSpot from $600.00 to $575.00 and set an “equal weight” rating for the company in a research report on Thursday, May 9th. Canaccord Genuity Group reduced their target price on HubSpot from $750.00 to $700.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. TD Cowen reduced their target price on HubSpot from $700.00 to $680.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. KeyCorp initiated coverage on HubSpot in a report on Thursday, March 21st. They issued an “underweight” rating and a $520.00 target price on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $730.00 price objective on shares of HubSpot in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat, HubSpot currently has a consensus rating of “Moderate Buy” and an average price target of $637.15.

HubSpot Price Performance

Shares of HUBS traded down $3.61 during mid-day trading on Thursday, hitting $488.70. The company’s stock had a trading volume of 1,433,996 shares, compared to its average volume of 612,015. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.32. The firm has a 50-day simple moving average of $592.07 and a 200 day simple moving average of $603.74. The firm has a market capitalization of $24.90 billion, a P/E ratio of -185.15 and a beta of 1.60. HubSpot has a 1-year low of $407.23 and a 1-year high of $693.85.

HubSpot (NYSE:HUBS) last posted its quarterly earnings results on Wednesday, May 8th. The software maker reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.26) by $0.27. The business had revenue of $617.41 million during the quarter, compared to analysts’ expectations of $597.12 million. HubSpot had a negative return on equity of 4.94% and a negative net margin of 5.78%. Analysts predict that HubSpot will post -0.55 EPS for the current fiscal year.

Insider Activity at HubSpot

In other news, insider Dawson Alyssa Harvey sold 192 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $650.00, for a total transaction of $124,800.00. Following the completion of the transaction, the insider now directly owns 10,860 shares of the company’s stock, valued at $7,059,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Yamini Rangan sold 2,877 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $592.80, for a total transaction of $1,705,485.60. Following the completion of the transaction, the chief executive officer now directly owns 68,037 shares of the company’s stock, valued at $40,332,333.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dawson Alyssa Harvey sold 192 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $650.00, for a total value of $124,800.00. Following the transaction, the insider now owns 10,860 shares of the company’s stock, valued at $7,059,000. The disclosure for this sale can be found here. Insiders sold a total of 46,491 shares of company stock valued at $28,092,844 over the last three months. 4.50% of the stock is owned by insiders.

Hedge Funds Weigh In On HubSpot

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Linden Thomas Advisory Services LLC acquired a new position in shares of HubSpot during the second quarter worth approximately $1,346,000. CWM LLC lifted its position in HubSpot by 92.4% in the second quarter. CWM LLC now owns 2,391 shares of the software maker’s stock worth $1,410,000 after purchasing an additional 1,148 shares during the period. Park Avenue Securities LLC lifted its position in HubSpot by 9.7% in the second quarter. Park Avenue Securities LLC now owns 1,697 shares of the software maker’s stock worth $1,001,000 after purchasing an additional 150 shares during the period. Harbor Capital Advisors Inc. lifted its position in HubSpot by 10.0% in the second quarter. Harbor Capital Advisors Inc. now owns 2,479 shares of the software maker’s stock worth $1,462,000 after purchasing an additional 225 shares during the period. Finally, Fulton Bank N.A. lifted its position in HubSpot by 17.2% in the second quarter. Fulton Bank N.A. now owns 990 shares of the software maker’s stock worth $584,000 after purchasing an additional 145 shares during the period. 90.39% of the stock is currently owned by institutional investors and hedge funds.

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.