HubSpot (NYSE:HUBS) Receives Outperform Rating from Oppenheimer

HubSpot (NYSE:HUBS)‘s stock had its “outperform” rating restated by analysts at Oppenheimer in a report released on Thursday, Benzinga reports. They currently have a $625.00 target price on the software maker’s stock. Oppenheimer’s price target would indicate a potential upside of 18.84% from the company’s current price.

Several other analysts also recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $730.00 price objective on shares of HubSpot in a research report on Thursday. Truist Financial reiterated a “buy” rating and issued a $600.00 price target (down previously from $700.00) on shares of HubSpot in a research report on Thursday, August 8th. Barclays reduced their price target on shares of HubSpot from $575.00 to $500.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. KeyCorp upgraded shares of HubSpot from an “underweight” rating to a “sector weight” rating and set a $460.00 price target for the company in a research report on Thursday, August 8th. Finally, Citigroup reduced their price target 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. Five analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $610.79.

HubSpot Price Performance

Shares of NYSE:HUBS traded up $22.17 during trading on Thursday, hitting $525.93. 330,978 shares of the company were exchanged, compared to its average volume of 617,799. The stock has a market capitalization of $26.80 billion, a P/E ratio of -198.08, a PEG ratio of 3,140.82 and a beta of 1.63. HubSpot has a 12-month low of $407.23 and a 12-month high of $693.85. The firm’s 50 day moving average price is $487.98 and its 200-day moving average price is $567.44.

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

Insider Transactions at HubSpot

In related news, CEO Yamini Rangan sold 116 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $33,009,441.57. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Yamini Rangan sold 116 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $33,009,441.57. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO Dharmesh Shah sold 25,000 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $586.85, for a total transaction of $14,671,250.00. Following the completion of the sale, the chief technology officer now directly owns 1,348,929 shares in the company, valued at $791,618,983.65. The disclosure for this sale can be found here. Insiders have sold a total of 38,012 shares of company stock valued at $21,300,253 in the last ninety days. 4.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC purchased a new position in HubSpot in the 2nd quarter valued at about $3,689,000. Sycomore Asset Management lifted its holdings 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 purchasing an additional 260 shares in the last quarter. Cetera Investment Advisers lifted its holdings 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 purchasing an additional 712 shares in the last quarter. Quarry LP purchased a new position in shares of HubSpot during the 2nd quarter worth about $146,000. Finally, NewEdge Advisors LLC lifted its holdings in shares of HubSpot by 2.2% during the 2nd quarter. NewEdge Advisors LLC now owns 3,344 shares of the software maker’s stock worth $1,972,000 after acquiring an additional 72 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.