HubSpot (NYSE:HUBS) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of HubSpot (NYSE:HUBS) in a report published on Thursday, Benzinga reports. They currently have a $730.00 target price on the software maker’s stock.

Other equities research analysts also recently issued research reports about the stock. Bank of America dropped their price target on shares of HubSpot from $650.00 to $580.00 and set a buy rating on the stock in a research note on Thursday, August 8th. Raymond James dropped their target price on shares of HubSpot from $725.00 to $675.00 and set an outperform rating for the company in a research report on Thursday, August 8th. Truist Financial reissued a buy rating and issued a $600.00 target price (down previously from $700.00) on shares of HubSpot in a research report on Thursday, August 8th. Citigroup dropped their target price on shares of HubSpot from $699.00 to $629.00 and set a buy rating for the company in a research report on Friday, August 9th. Finally, Evercore ISI dropped their target price on shares of HubSpot from $650.00 to $550.00 and set an in-line rating for the company in a research report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $610.79.

HubSpot Price Performance

HubSpot stock opened at $526.88 on Thursday. HubSpot has a 12-month low of $407.23 and a 12-month high of $693.85. The company has a market capitalization of $26.85 billion, a price-to-earnings ratio of -198.82, a price-to-earnings-growth ratio of 3,140.82 and a beta of 1.63. The firm’s fifty day moving average price is $489.80 and its 200 day moving average price is $566.20.

HubSpot (NYSE:HUBS) last released its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $619.28 million. During the same quarter in the previous year, the firm posted ($1.17) EPS. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. Analysts forecast that HubSpot will post 0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Yamini Rangan sold 116 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 67,203 shares in the company, valued at approximately $33,009,441.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Yamini Rangan sold 116 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 67,203 shares in the company, valued at approximately $33,009,441.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dawson Alyssa Harvey sold 384 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $467.23, for a total transaction of $179,416.32. Following the completion of the sale, the insider now owns 9,735 shares in the company, valued at $4,548,484.05. The disclosure for this sale can be found here. Insiders have sold 38,012 shares of company stock worth $21,300,253 in the last ninety days. 4.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On HubSpot

A number of large investors have recently made changes to their positions in the company. Sanctuary Advisors LLC acquired a new stake in shares of HubSpot during the second quarter valued at approximately $3,689,000. Sycomore Asset Management increased its stake in HubSpot by 9.5% in the 2nd quarter. Sycomore Asset Management now owns 2,988 shares of the software maker’s stock valued at $1,699,000 after buying an additional 260 shares during the period. Cetera Investment Advisers increased its stake in HubSpot by 17.8% in the 2nd quarter. Cetera Investment Advisers now owns 4,706 shares of the software maker’s stock valued at $2,776,000 after buying an additional 712 shares during the period. Quarry LP acquired a new position in HubSpot in the 2nd quarter valued at approximately $146,000. Finally, NewEdge Advisors LLC increased its stake in HubSpot by 2.2% in the 2nd quarter. NewEdge Advisors LLC now owns 3,344 shares of the software maker’s stock valued at $1,972,000 after buying an additional 72 shares during the period. 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.