HubSpot (NYSE:HUBS) Earns Outperform Rating from Royal Bank of Canada

HubSpot (NYSE:HUBS)‘s stock had its “outperform” rating reissued by stock analysts at Royal Bank of Canada in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $700.00 price target on the software maker’s stock. Royal Bank of Canada’s target price suggests a potential upside of 36.13% from the stock’s current price.

HUBS has been the subject of a number of other research reports. Piper Sandler reaffirmed an “overweight” rating and set a $570.00 target price on shares of HubSpot in a research report on Thursday. Stifel Nicolaus decreased their target price on HubSpot from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Raymond James decreased their target price on HubSpot from $725.00 to $675.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $730.00 target price on shares of HubSpot in a research report on Thursday. Finally, KeyCorp raised HubSpot from an “underweight” rating to a “sector weight” rating and set a $460.00 target price for the company in a research report on Thursday, August 8th. Five analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $610.79.

HubSpot Stock Performance

Shares of NYSE HUBS traded up $10.44 during trading hours on Thursday, hitting $514.20. The stock had a trading volume of 54,744 shares, compared to its average volume of 616,273. The company has a market capitalization of $26.20 billion, a P/E ratio of -194.04, a P/E/G ratio of 3,140.82 and a beta of 1.63. The firm’s 50-day moving average price is $487.98 and its two-hundred day moving average price is $567.44. HubSpot has a 52 week low of $407.23 and a 52 week high of $693.85.

HubSpot (NYSE:HUBS) last announced its quarterly earnings results on Wednesday, August 7th. The software maker reported $1.94 EPS for the quarter, beating the consensus estimate of $1.64 by $0.30. The business had revenue of $637.20 million during the quarter, compared to analysts’ expectations of $619.28 million. HubSpot had a negative return on equity of 2.33% and a negative net margin of 1.15%. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.17) EPS. As a group, analysts expect that HubSpot will post 0.01 EPS for the current fiscal year.

Insider Activity at HubSpot

In related news, insider Dawson Alyssa Harvey sold 384 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $467.23, for a total value of $179,416.32. Following the completion of the transaction, the insider now directly owns 9,735 shares in the company, valued at $4,548,484.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other HubSpot news, CEO Yamini Rangan sold 116 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $491.19, for a total transaction of $56,978.04. Following the completion of the transaction, the chief executive officer now directly owns 67,203 shares in the company, valued at $33,009,441.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dawson Alyssa Harvey sold 384 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $467.23, for a total value of $179,416.32. Following the transaction, the insider now owns 9,735 shares of the company’s stock, valued at $4,548,484.05. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,012 shares of company stock worth $21,300,253. 4.50% of the stock is owned by corporate insiders.

Institutional Trading of HubSpot

A number of hedge funds and other institutional investors have recently made changes to their positions in HUBS. Wellington Management Group LLP increased its stake in shares of HubSpot by 50.3% in the fourth quarter. Wellington Management Group LLP now owns 1,874,322 shares of the software maker’s stock valued at $1,088,119,000 after buying an additional 626,977 shares in the last quarter. Jennison Associates LLC increased its stake in shares of HubSpot by 62.1% in the first quarter. Jennison Associates LLC now owns 1,577,511 shares of the software maker’s stock valued at $988,406,000 after buying an additional 604,554 shares in the last quarter. Twin Focus Capital Partners LLC increased its stake in shares of HubSpot by 92,828.2% in the fourth quarter. Twin Focus Capital Partners LLC now owns 487,873 shares of the software maker’s stock valued at $283,230,000 after buying an additional 487,348 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of HubSpot in the fourth quarter valued at $114,983,000. Finally, Price T Rowe Associates Inc. MD increased its stake 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 in the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

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.