Wells Fargo & Company Raises HubSpot (NYSE:HUBS) Price Target to $750.00

HubSpot (NYSE:HUBS) had its price target boosted by Wells Fargo & Company from $625.00 to $750.00 in a report issued on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the software maker’s stock.

A number of other research firms have also commented on HUBS. Citigroup lowered their price objective on shares of HubSpot from $699.00 to $629.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Piper Sandler lowered shares of HubSpot from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $570.00 to $640.00 in a research note on Thursday. Evercore ISI lifted their price objective on shares of HubSpot from $610.00 to $700.00 and gave the company an “in-line” rating in a research note on Thursday. Truist Financial reiterated a “buy” rating and issued a $600.00 target price (down previously from $700.00) on shares of HubSpot in a report on Thursday, August 8th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $700.00 price objective on shares of HubSpot in a report on Thursday, September 19th. Five investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $660.96.

HubSpot Price Performance

HUBS traded up $12.07 during trading on Thursday, hitting $656.68. The company’s stock had a trading volume of 946,983 shares, compared to its average volume of 593,695. HubSpot has a twelve month low of $413.07 and a twelve month high of $693.85. The firm’s 50 day moving average price is $529.41 and its 200-day moving average price is $545.99. The stock has a market cap of $33.72 billion, a PE ratio of -1,199.76, a PEG ratio of 7,506.16 and a beta of 1.63.

HubSpot (NYSE:HUBS) last posted its quarterly earnings data on Wednesday, August 7th. The software maker reported $1.94 earnings per share for the quarter, beating 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 company had revenue of $637.20 million during the quarter, compared to analysts’ expectations of $619.28 million. During the same period in the prior year, the company posted ($1.17) EPS. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis.

Insiders Place Their Bets

In other news, CEO Yamini Rangan sold 1,374 shares of HubSpot stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $550.00, for a total value of $755,700.00. Following the completion of the transaction, the chief executive officer now directly owns 61,294 shares in the company, valued at approximately $33,711,700. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Yamini Rangan sold 1,374 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $550.00, for a total transaction of $755,700.00. Following the completion of the transaction, the chief executive officer now directly owns 61,294 shares in the company, valued at $33,711,700. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kathryn Bueker sold 1,804 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $550.00, for a total value of $992,200.00. Following the transaction, the chief financial officer now owns 41,259 shares of the company’s stock, valued at approximately $22,692,450. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,937 shares of company stock valued at $3,194,673 over the last ninety days. 4.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On HubSpot

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in HubSpot by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 4,829,488 shares of the software maker’s stock valued at $3,025,964,000 after buying an additional 39,098 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in HubSpot by 10.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,933,629 shares of the software maker’s stock valued at $1,211,535,000 after buying an additional 176,336 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in HubSpot by 0.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 484,586 shares of the software maker’s stock valued at $285,804,000 after buying an additional 3,775 shares during the last quarter. Capital Research Global Investors raised its holdings in HubSpot by 0.9% during the 1st quarter. Capital Research Global Investors now owns 452,210 shares of the software maker’s stock valued at $283,337,000 after buying an additional 4,242 shares during the last quarter. Finally, Marshall Wace LLP increased its position in HubSpot by 88.7% during the 2nd quarter. Marshall Wace LLP now owns 241,557 shares of the software maker’s stock valued at $142,468,000 after purchasing an additional 113,555 shares during the period. 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.