HubSpot’s (HUBS) Buy Rating Reiterated at Needham & Company LLC

HubSpot (NYSE:HUBS)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a report issued on Thursday,Benzinga reports. They presently have a $730.00 price target on the software maker’s stock. Needham & Company LLC’s price objective suggests a potential upside of 11.17% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. The Goldman Sachs Group boosted their price target on shares of HubSpot from $626.00 to $690.00 and gave the company a “buy” rating in a research report on Thursday. Evercore ISI boosted their target price on HubSpot from $610.00 to $700.00 and gave the company an “in-line” rating in a report on Thursday. Wells Fargo & Company upped their target price on HubSpot from $625.00 to $750.00 and gave the company an “overweight” rating in a research report on Thursday. Bank of America cut their price target on HubSpot from $650.00 to $580.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. increased their price objective on HubSpot from $560.00 to $635.00 and gave the company an “overweight” rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, HubSpot currently has an average rating of “Moderate Buy” and an average price target of $660.96.

HubSpot Price Performance

HUBS opened at $656.68 on Thursday. The business has a fifty day moving average price of $535.45 and a 200 day moving average price of $546.83. HubSpot has a 12 month low of $413.07 and a 12 month high of $693.85. The stock has a market capitalization of $33.72 billion, a price-to-earnings ratio of -2,432.06, a PEG ratio of 7,948.12 and a beta of 1.63.

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

Insider Buying and Selling at HubSpot

In other news, CEO Yamini Rangan sold 116 shares of the firm’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 directly owns 67,203 shares of the company’s stock, valued at $33,009,441.57. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Kathryn Bueker sold 1,804 shares of the firm’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 completion of the transaction, the chief financial officer now directly owns 41,259 shares of the company’s stock, valued at $22,692,450. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Yamini Rangan sold 116 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now owns 67,203 shares of the company’s stock, 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. In the last 90 days, insiders have sold 5,937 shares of company stock valued at $3,194,673. 4.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On HubSpot

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. M&G Plc purchased a new position in shares of HubSpot during the 1st quarter worth approximately $8,533,000. Pallas Capital Advisors LLC acquired a new stake in shares of HubSpot during the third quarter valued at $624,000. Headlands Technologies LLC acquired a new stake in shares of HubSpot during the second quarter valued at $3,135,000. Linden Thomas Advisory Services LLC purchased a new stake in HubSpot during the 2nd quarter worth about $1,346,000. Finally, DekaBank Deutsche Girozentrale raised its stake in HubSpot by 32.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 14,409 shares of the software maker’s stock valued at $8,996,000 after purchasing an additional 3,550 shares during the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

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.