HubSpot (NYSE:HUBS) Price Target Raised to $710.00 at Canaccord Genuity Group

HubSpot (NYSE:HUBS) had its price target raised by research analysts at Canaccord Genuity Group from $600.00 to $710.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. Canaccord Genuity Group’s price target would indicate a potential upside of 8.14% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Citigroup cut their price objective on HubSpot from $699.00 to $629.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Truist Financial restated a “buy” rating and issued a $600.00 price objective (down previously from $700.00) on shares of HubSpot in a research note on Thursday, August 8th. Needham & Company LLC restated a “buy” rating and set a $730.00 price target on shares of HubSpot in a research note on Monday, October 14th. KeyCorp upgraded HubSpot from an “underweight” rating to a “sector weight” rating and set a $460.00 price objective for the company in a research report on Thursday, August 8th. Finally, Raymond James lowered their price objective on HubSpot from $725.00 to $675.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $660.96.

HubSpot Trading Up 1.9 %

Shares of NYSE HUBS opened at $656.56 on Thursday. The firm has a market capitalization of $33.71 billion, a PE ratio of -2,432.06, a PEG ratio of 7,948.12 and a beta of 1.63. HubSpot has a one year low of $413.07 and a one year high of $693.85. The business has a 50-day moving average price of $535.45 and a two-hundred day moving average price of $546.83.

HubSpot (NYSE:HUBS) last announced its earnings results on Wednesday, August 7th. The software maker reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. HubSpot had a negative return on equity of 1.22% and a negative net margin of 0.56%. The firm had revenue of $637.20 million during the quarter, compared to analysts’ expectations of $619.28 million. During the same quarter in the prior year, the business earned ($1.17) earnings per share. The company’s revenue was up 20.4% on a year-over-year basis.

Insider Buying and Selling at HubSpot

In other news, CEO Yamini Rangan sold 116 shares of the business’s 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Kathryn Bueker sold 1,804 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $550.00, for a total transaction of $992,200.00. Following the completion of the transaction, the chief financial officer now directly owns 41,259 shares in the company, valued at $22,692,450. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Yamini Rangan sold 116 shares of HubSpot stock in a transaction dated Wednesday, September 4th. The shares were 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 directly owns 67,203 shares in the company, valued at approximately $33,009,441.57. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,937 shares of company stock valued at $3,194,673. 4.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake 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 during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of HubSpot by 10.0% in the first 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 boosted its stake in shares of HubSpot by 0.8% during the 2nd 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 increased 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 acquiring an additional 4,242 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in HubSpot by 88.7% in the 2nd 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 period. 90.39% of the stock is currently owned by institutional investors.

HubSpot Company Profile

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.