Brokerages Set HashiCorp, Inc. (NASDAQ:HCP) PT at $32.08

HashiCorp, Inc. (NASDAQ:HCP) has received an average recommendation of “Hold” from the fourteen brokerages that are presently covering the stock, MarketBeat reports. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $32.08.

Several research analysts have recently commented on HCP shares. StockNews.com started coverage on HashiCorp in a report on Monday. They set a “hold” rating on the stock. Citigroup started coverage on HashiCorp in a report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price target on the stock. Piper Sandler reiterated a “neutral” rating and set a $35.00 price target on shares of HashiCorp in a report on Friday, August 30th. Finally, JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th.

HashiCorp Stock Performance

Shares of HCP stock opened at $33.84 on Wednesday. The stock’s fifty day moving average is $33.77 and its two-hundred day moving average is $32.05. The firm has a market capitalization of $6.80 billion, a P/E ratio of -35.25 and a beta of 1.25. HashiCorp has a fifty-two week low of $18.91 and a fifty-two week high of $34.06.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.08 EPS for the quarter. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The business had revenue of $165.14 million for the quarter, compared to analyst estimates of $157.22 million. During the same quarter in the previous year, the firm earned ($0.34) EPS. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. On average, equities analysts forecast that HashiCorp will post -0.48 earnings per share for the current year.

Insider Buying and Selling at HashiCorp

In other HashiCorp news, CFO Navam Welihinda sold 5,000 shares of HashiCorp stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $33.87, for a total value of $169,350.00. Following the completion of the transaction, the chief financial officer now directly owns 88,322 shares of the company’s stock, valued at approximately $2,991,466.14. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO David Mcjannet sold 48,055 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $33.84, for a total transaction of $1,626,181.20. Following the completion of the transaction, the chief executive officer now directly owns 419,531 shares of the company’s stock, valued at $14,196,929.04. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Navam Welihinda sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $33.87, for a total value of $169,350.00. Following the transaction, the chief financial officer now directly owns 88,322 shares of the company’s stock, valued at $2,991,466.14. The disclosure for this sale can be found here. Insiders sold a total of 368,137 shares of company stock valued at $12,429,132 in the last three months. 22.49% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On HashiCorp

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of HashiCorp by 14.0% during the first quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock worth $329,454,000 after buying an additional 1,501,953 shares in the last quarter. Whale Rock Capital Management LLC grew its position in shares of HashiCorp by 293.2% during the first quarter. Whale Rock Capital Management LLC now owns 4,565,728 shares of the company’s stock worth $123,046,000 after buying an additional 3,404,557 shares in the last quarter. Jericho Capital Asset Management L.P. grew its position in shares of HashiCorp by 53.3% during the first quarter. Jericho Capital Asset Management L.P. now owns 3,338,951 shares of the company’s stock worth $89,985,000 after buying an additional 1,161,600 shares in the last quarter. Optimus Prime Fund Management Co. Ltd. grew its position in shares of HashiCorp by 50.0% during the fourth quarter. Optimus Prime Fund Management Co. Ltd. now owns 2,849,100 shares of the company’s stock worth $67,353,000 after buying an additional 949,100 shares in the last quarter. Finally, First Trust Advisors LP grew its position in shares of HashiCorp by 35.7% during the fourth quarter. First Trust Advisors LP now owns 2,722,097 shares of the company’s stock worth $64,350,000 after buying an additional 716,574 shares in the last quarter. 87.83% of the stock is owned by institutional investors and hedge funds.

HashiCorp Company Profile

HashiCorp, Inc engages in the provision of multi-cloud infrastructure automation solutions worldwide. The company offers infrastructure provisioning products, including Terraform, that enables IT operations teams to apply an Infrastructure-as-Code approach, where processes and configuration required to support applications are codified and automated instead of being manual and ticket-based; Packer, that provides a consistent way to define the process of transforming the raw source inputs into a production worthy artifact, across any environment or packaging format; and Vagrant, that allows teams to define how development environments are set up.