HashiCorp (NASDAQ:HCP) Receives New Coverage from Analysts at StockNews.com

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

Other equities research analysts have also recently issued reports about the company. JMP Securities reissued a market perform rating on shares of HashiCorp in a research report on Thursday, June 6th. Piper Sandler reissued a neutral rating and issued a $35.00 price objective on shares of HashiCorp in a research report on Friday, August 30th. Finally, Citigroup started coverage on HashiCorp in a research report on Tuesday, September 3rd. They issued a neutral rating and a $35.00 price objective for the company. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, HashiCorp currently has an average rating of Hold and an average target price of $32.08.

HashiCorp Stock Up 0.1 %

Shares of HashiCorp stock opened at $33.84 on Thursday. The stock has a market capitalization of $6.87 billion, a P/E ratio of -35.25 and a beta of 1.25. The stock has a 50 day moving average price of $33.69 and a two-hundred day moving average price of $31.44. HashiCorp has a 12-month low of $18.91 and a 12-month high of $34.05.

HashiCorp (NASDAQ:HCP) last announced its earnings results on Thursday, August 29th. The company reported $0.08 earnings per share (EPS) for the quarter. The firm had revenue of $165.14 million during the quarter, compared to analysts’ expectations of $157.22 million. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The company’s revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.34) earnings per share. Sell-side analysts anticipate that HashiCorp will post -0.59 earnings per share for the current year.

Insider Activity at HashiCorp

In related news, CMO Marc Holmes sold 13,916 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $33.80, for a total value of $470,360.80. Following the transaction, the chief marketing officer now owns 4,368 shares in the company, valued at $147,638.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other HashiCorp news, insider Ledger Susan St. sold 22,366 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $33.26, for a total transaction of $743,893.16. Following the transaction, the insider now owns 143,072 shares in the company, valued at $4,758,574.72. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CMO Marc Holmes sold 13,916 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $33.80, for a total value of $470,360.80. Following the transaction, the chief marketing officer now owns 4,368 shares in the company, valued at approximately $147,638.40. The disclosure for this sale can be found here. Insiders have sold a total of 406,736 shares of company stock worth $13,640,495 over the last 90 days. Insiders own 22.49% of the company’s stock.

Institutional Investors Weigh In On HashiCorp

A number of hedge funds have recently modified their holdings of HCP. American Capital Advisory LLC acquired a new stake in HashiCorp in the 2nd quarter valued at approximately $40,000. Advisors Asset Management Inc. raised its position in HashiCorp by 43.0% in the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after buying an additional 961 shares during the last quarter. Covestor Ltd raised its position in HashiCorp by 12,888.9% in the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock valued at $95,000 after buying an additional 3,480 shares during the last quarter. Quest Partners LLC raised its position in HashiCorp by 9,736.1% in the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock valued at $119,000 after buying an additional 3,505 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in HashiCorp in the 2nd quarter valued at approximately $208,000. Institutional investors and hedge funds 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.