HashiCorp (NASDAQ:HCP) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of HashiCorp (NASDAQ:HCP) in a research report report published on Wednesday morning. The brokerage issued a hold rating on the stock.

A number of other research firms also recently weighed in on HCP. Piper Sandler restated a “neutral” rating and issued a $35.00 target price on shares of HashiCorp in a research report on Friday, August 30th. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a research note on Monday, September 16th. Finally, Citigroup initiated coverage on HashiCorp in a research note on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price target on the stock. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $32.08.

HashiCorp Trading Up 0.2 %

Shares of HCP opened at $33.92 on Wednesday. The company has a market cap of $6.88 billion, a PE ratio of -45.23 and a beta of 1.25. The stock has a 50-day moving average price of $33.85 and a 200-day moving average price of $33.21. HashiCorp has a 12-month low of $18.91 and a 12-month high of $34.06.

HashiCorp (NASDAQ:HCP) last issued its quarterly 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 the consensus estimate 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 for the quarter was up 15.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.34) EPS. As a group, analysts predict that HashiCorp will post -0.48 earnings per share for the current year.

Insider Activity

In related news, CFO Navam Welihinda sold 5,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $33.87, for a total value of $169,350.00. Following the sale, the chief financial officer now directly owns 88,322 shares of the company’s stock, valued at $2,991,466.14. This represents 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 available at this link. In related news, CFO Navam Welihinda sold 5,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $33.87, for a total value of $169,350.00. Following the sale, the chief financial officer now directly owns 88,322 shares of the company’s stock, valued at $2,991,466.14. This represents 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 available at this link. Also, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $33.85, for a total value of $1,215,350.40. Following the completion of the sale, the chief technology officer now directly owns 1,520,000 shares in the company, valued at $51,452,000. This trade 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 349,221 shares of company stock valued at $11,812,159. Company insiders own 22.49% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Swiss National Bank lifted its holdings in shares of HashiCorp by 11.8% during the first quarter. Swiss National Bank now owns 221,600 shares of the company’s stock valued at $5,972,000 after purchasing an additional 23,400 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of HashiCorp during the first quarter worth about $1,070,000. Bessemer Group Inc. purchased a new stake in shares of HashiCorp during the first quarter worth about $649,000. Vanguard Group Inc. grew its position in shares of HashiCorp by 14.0% during the first quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock worth $329,454,000 after purchasing an additional 1,501,953 shares in the last quarter. Finally, New York Life Investment Management LLC purchased a new stake in shares of HashiCorp during the second quarter worth about $11,407,000. 87.83% of the stock is owned by institutional investors.

HashiCorp Company Profile

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.