HubSpot (NYSE:HUBS) Stock Rating Reaffirmed by Piper Sandler

HubSpot (NYSE:HUBS)‘s stock had its “overweight” rating reaffirmed by Piper Sandler in a research note issued to investors on Thursday, Benzinga reports. They presently have a $570.00 price objective on the software maker’s stock. Piper Sandler’s price objective suggests a potential upside of 8.18% from the stock’s previous close.

A number of other research firms also recently weighed in on HUBS. Needham & Company LLC reissued a “buy” rating and set a $730.00 target price on shares of HubSpot in a research report on Thursday. UBS Group reduced their target price on shares of HubSpot from $580.00 to $550.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Canaccord Genuity Group reduced their target price on shares of HubSpot from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Stifel Nicolaus reduced their target price on shares of HubSpot from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Finally, Raymond James reduced their target price on shares of HubSpot from $725.00 to $675.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $610.79.

HubSpot Stock Performance

Shares of HUBS stock opened at $526.88 on Thursday. HubSpot has a 52-week low of $407.23 and a 52-week high of $693.85. The company has a 50-day simple moving average of $489.80 and a two-hundred day simple moving average of $566.48. The company has a market capitalization of $26.85 billion, a price-to-earnings ratio of -198.82, a PEG ratio of 3,140.82 and a beta of 1.63.

HubSpot (NYSE:HUBS) last issued its quarterly earnings data on Wednesday, August 7th. The software maker reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. HubSpot had a negative net margin of 1.15% and a negative return on equity of 2.33%. The business had revenue of $637.20 million during the quarter, compared to the consensus estimate of $619.28 million. During the same period in the prior year, the firm posted ($1.17) EPS. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. On average, sell-side analysts forecast that HubSpot will post 0.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other HubSpot news, CEO Yamini Rangan sold 116 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $491.19, for a total value of $56,978.04. Following the sale, the chief executive officer now directly owns 67,203 shares in the company, valued at approximately $33,009,441.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Yamini Rangan sold 116 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $491.19, for a total transaction of $56,978.04. Following the sale, the chief executive officer now owns 67,203 shares in the company, valued at approximately $33,009,441.57. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Kathryn Bueker sold 1,135 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $592.80, for a total transaction of $672,828.00. Following the sale, the chief financial officer now owns 44,715 shares in the company, valued at approximately $26,507,052. The disclosure for this sale can be found here. Insiders have sold 38,012 shares of company stock worth $21,300,253 in the last three months. 4.50% of the stock is currently owned by corporate insiders.

Institutional Trading of HubSpot

Several institutional investors and hedge funds have recently made changes to their positions in HUBS. Vanguard Group Inc. grew its holdings in shares of HubSpot by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 4,790,390 shares of the software maker’s stock valued at $2,781,013,000 after purchasing an additional 119,999 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of HubSpot by 10.1% during the 4th quarter. Hsbc Holdings PLC now owns 22,402 shares of the software maker’s stock valued at $13,022,000 after purchasing an additional 2,057 shares during the last quarter. Stifel Financial Corp grew its holdings in shares of HubSpot by 15.1% during the 4th quarter. Stifel Financial Corp now owns 33,248 shares of the software maker’s stock valued at $19,302,000 after purchasing an additional 4,371 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of HubSpot by 74.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,646 shares of the software maker’s stock valued at $2,117,000 after purchasing an additional 1,560 shares during the last quarter. Finally, M&G Plc bought a new position in shares of HubSpot during the 1st quarter valued at $8,533,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

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.