Royal Bank of Canada Reiterates Outperform Rating for HubSpot (NYSE:HUBS)

HubSpot (NYSE:HUBS)‘s stock had its “outperform” rating reiterated by equities researchers at Royal Bank of Canada in a research note issued on Thursday, Benzinga reports. They presently have a $700.00 target price on the software maker’s stock. Royal Bank of Canada’s target price points to a potential upside of 32.86% from the company’s previous close.

HUBS has been the subject of a number of other research reports. BMO Capital Markets dropped their target price on HubSpot from $635.00 to $570.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and issued a $730.00 price objective on shares of HubSpot in a research note on Thursday. Oppenheimer cut their price objective on shares of HubSpot from $725.00 to $625.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Bank of America lowered their target price on shares of HubSpot from $650.00 to $580.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Truist Financial reiterated a “buy” rating and issued a $600.00 price target (down from $700.00) on shares of HubSpot in a research note on Thursday, August 8th. Five analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $610.79.

HubSpot Stock Performance

NYSE HUBS opened at $526.88 on Thursday. The stock has a market cap of $26.85 billion, a PE ratio of -198.82, a P/E/G ratio of 3,140.82 and a beta of 1.63. The firm has a 50-day moving average of $489.80 and a 200-day moving average of $566.48. HubSpot has a 52-week low of $407.23 and a 52-week high of $693.85.

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 the consensus estimate 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 firm had revenue of $637.20 million during the quarter, compared to the consensus estimate of $619.28 million. During the same period last year, the business posted ($1.17) earnings per share. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, analysts predict that HubSpot will post 0.01 EPS for the current fiscal year.

Insider Buying and Selling at HubSpot

In other HubSpot news, CEO Yamini Rangan sold 2,877 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $592.80, for a total value of $1,705,485.60. Following the completion of the transaction, the chief executive officer now directly owns 68,037 shares in the company, valued at $40,332,333.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Yamini Rangan sold 2,877 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $592.80, for a total value of $1,705,485.60. Following the sale, the chief executive officer now owns 68,037 shares of the company’s stock, valued at $40,332,333.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Brian Halligan sold 8,500 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $472.27, for a total value of $4,014,295.00. Following the completion of the sale, the insider now owns 518,152 shares of the company’s stock, valued at $244,707,645.04. The disclosure for this sale can be found here. Insiders have sold 38,012 shares of company stock worth $21,300,253 over the last quarter. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On HubSpot

A number of hedge funds have recently made changes to their positions in HUBS. Gilbert & Cook Inc. raised its holdings in HubSpot by 60.0% during the 4th quarter. Gilbert & Cook Inc. now owns 1,965 shares of the software maker’s stock worth $1,141,000 after purchasing an additional 737 shares during the last quarter. Principal Securities Inc. bought a new position in HubSpot during the fourth quarter worth $50,000. Dimensional Fund Advisors LP lifted its holdings in HubSpot by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 71,428 shares of the software maker’s stock valued at $41,470,000 after buying an additional 631 shares during the period. Avantax Advisory Services Inc. bought a new stake in HubSpot during the fourth quarter valued at $200,000. Finally, PNC Financial Services Group Inc. grew its holdings in HubSpot by 74.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,646 shares of the software maker’s stock worth $2,117,000 after acquiring an additional 1,560 shares during the period. 90.39% of the stock is currently owned by institutional investors.

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.