Royal Bank of Canada Forecasts Strong Price Appreciation for HubSpot (NYSE:HUBS) Stock

HubSpot (NYSE:HUBS) had its target price hoisted by investment analysts at Royal Bank of Canada from $825.00 to $950.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the software maker’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 16.93% from the company’s current price.

HUBS has been the topic of several other research reports. UBS Group increased their target price on HubSpot from $740.00 to $775.00 and gave the stock a “neutral” rating in a research report on Thursday. Evercore ISI upped their price target on shares of HubSpot from $610.00 to $700.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Mizuho upped their price target on shares of HubSpot from $725.00 to $775.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. JPMorgan Chase & Co. upped their price target on shares of HubSpot from $635.00 to $725.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, BMO Capital Markets upped their price target on shares of HubSpot from $570.00 to $690.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $857.75.

HubSpot Trading Down 0.9 %

HubSpot stock opened at $812.44 on Thursday. The company has a market cap of $41.94 billion, a price-to-earnings ratio of -3,008.92, a PEG ratio of 43.94 and a beta of 1.72. The business’s 50 day simple moving average is $734.12 and its 200 day simple moving average is $619.11. HubSpot has a 12 month low of $434.84 and a 12 month high of $881.13.

HubSpot (NYSE:HUBS) last posted its earnings results on Wednesday, February 12th. The software maker reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($1.98). HubSpot had a negative return on equity of 1.16% and a negative net margin of 0.56%. As a group, equities research analysts forecast that HubSpot will post 0.42 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Yamini Rangan sold 115 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $713.79, for a total transaction of $82,085.85. Following the completion of the sale, the chief executive officer now directly owns 61,179 shares in the company, valued at approximately $43,668,958.41. This represents a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lorrie M. Norrington sold 572 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $690.00, for a total transaction of $394,680.00. Following the sale, the director now owns 1,697 shares of the company’s stock, valued at approximately $1,170,930. This represents a 25.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 73,112 shares of company stock valued at $51,432,627. 4.50% of the stock is currently owned by insiders.

Institutional Trading of HubSpot

Institutional investors have recently modified their holdings of the company. Mercer Global Advisors Inc. ADV lifted its holdings in HubSpot by 28.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 2,087 shares of the software maker’s stock worth $1,454,000 after buying an additional 463 shares during the period. Comerica Bank lifted its holdings in HubSpot by 3.7% in the fourth quarter. Comerica Bank now owns 13,886 shares of the software maker’s stock worth $9,675,000 after buying an additional 501 shares during the period. AQR Capital Management LLC lifted its holdings in HubSpot by 19.2% in the fourth quarter. AQR Capital Management LLC now owns 208,237 shares of the software maker’s stock worth $145,094,000 after buying an additional 33,566 shares during the period. Lido Advisors LLC lifted its holdings in HubSpot by 78.8% in the fourth quarter. Lido Advisors LLC now owns 1,976 shares of the software maker’s stock worth $1,377,000 after buying an additional 871 shares during the period. Finally, Northern Trust Corp lifted its holdings in HubSpot by 18.0% in the fourth quarter. Northern Trust Corp now owns 345,535 shares of the software maker’s stock worth $240,758,000 after buying an additional 52,792 shares during the period. 90.39% of the stock is currently owned by hedge funds and other 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.