Canaccord Genuity Group Issues Positive Forecast for HubSpot (NYSE:HUBS) Stock Price

HubSpot (NYSE:HUBS) had its target price lifted by Canaccord Genuity Group from $600.00 to $710.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the software maker’s stock.

A number of other brokerages have also weighed in on HUBS. Royal Bank of Canada raised their price target on shares of HubSpot from $700.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $730.00 target price on shares of HubSpot in a research note on Monday, October 14th. Citigroup dropped their price objective on shares of HubSpot from $699.00 to $629.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Truist Financial reaffirmed a “buy” rating and set a $600.00 price target (down from $700.00) on shares of HubSpot in a research note on Thursday, August 8th. Finally, Barclays dropped their target price on HubSpot from $575.00 to $500.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $660.96.

HubSpot Stock Up 1.9 %

NYSE 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 52 week low of $413.07 and a 52 week high of $693.85. The firm has a market cap of $33.72 billion, a P/E ratio of -1,199.76, a price-to-earnings-growth ratio of 7,506.16 and a beta of 1.63. The firm has a 50 day moving average price of $529.41 and a 200 day moving average price of $545.99.

HubSpot (NYSE:HUBS) last announced its quarterly earnings results 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. The firm had revenue of $637.20 million for the quarter, compared to analysts’ expectations of $619.28 million. HubSpot had a negative return on equity of 2.33% and a negative net margin of 1.15%. The business’s revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.17) earnings per share.

Insider Transactions at HubSpot

In related news, CEO Yamini Rangan sold 116 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $491.19, for a total value of $56,978.04. Following the completion of the sale, the chief executive officer now owns 67,203 shares in the company, valued at approximately $33,009,441.57. 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 is accessible through the SEC website. In related news, CFO Kathryn Bueker sold 1,804 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $550.00, for a total value of $992,200.00. Following the sale, the chief financial officer now owns 41,259 shares in the company, valued at $22,692,450. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Yamini Rangan sold 116 shares of the stock in a transaction dated Wednesday, September 4th. The stock was 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 $33,009,441.57. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,937 shares of company stock valued at $3,194,673. 4.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On HubSpot

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in HubSpot by 0.8% in 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 purchasing an additional 39,098 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in HubSpot by 10.0% in 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 purchasing an additional 176,336 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in HubSpot by 0.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 484,586 shares of the software maker’s stock worth $285,804,000 after acquiring an additional 3,775 shares during the period. Capital Research Global Investors grew its holdings in shares of HubSpot by 0.9% during the 1st quarter. Capital Research Global Investors now owns 452,210 shares of the software maker’s stock worth $283,337,000 after purchasing an additional 4,242 shares during the period. Finally, Marshall Wace LLP increased its position in shares of HubSpot by 88.7% during the second quarter. Marshall Wace LLP now owns 241,557 shares of the software maker’s stock valued at $142,468,000 after acquiring an additional 113,555 shares during the last quarter. 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.