HubSpot (NYSE:HUBS) Given New $850.00 Price Target at Bank of America

HubSpot (NYSE:HUBS) had its price objective increased by Bank of America from $780.00 to $850.00 in a report issued on Monday,Benzinga reports. The firm currently has a buy rating on the software maker’s stock.

HUBS has been the topic of several other reports. Truist Financial reaffirmed a “buy” rating and issued a $750.00 price objective (up from $600.00) on shares of HubSpot in a report on Friday, November 8th. Oppenheimer upped their price target on shares of HubSpot from $625.00 to $740.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Stifel Nicolaus boosted their price objective on HubSpot from $750.00 to $880.00 and gave the company a “buy” rating in a report on Monday, December 9th. Mizuho upped their target price on HubSpot from $725.00 to $775.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $730.00 price target on shares of HubSpot in a research report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $702.23.

HubSpot Trading Up 3.5 %

NYSE:HUBS opened at $746.91 on Monday. The company has a market capitalization of $38.56 billion, a P/E ratio of -2,766.33, a PEG ratio of 88.26 and a beta of 1.70. The firm has a fifty day simple moving average of $642.28 and a 200-day simple moving average of $565.10. HubSpot has a 12 month low of $434.84 and a 12 month high of $762.47.

HubSpot (NYSE:HUBS) last released its earnings results on Wednesday, November 6th. The software maker reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.27. The firm had revenue of $669.72 million during the quarter, compared to the consensus estimate of $646.97 million. HubSpot had a negative return on equity of 1.16% and a negative net margin of 0.56%. The company’s revenue was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.04) earnings per share. Equities analysts forecast that HubSpot will post 0.4 EPS for the current year.

Insider Activity at HubSpot

In other news, CEO Yamini Rangan sold 1,507 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $525.84, for a total transaction of $792,440.88. Following the completion of the sale, the chief executive officer now owns 62,668 shares of the company’s stock, valued at $32,953,341.12. This represents a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dawson Alyssa Harvey sold 573 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $700.00, for a total transaction of $401,100.00. Following the completion of the transaction, the insider now directly owns 7,603 shares in the company, valued at approximately $5,322,100. This represents a 7.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,390 shares of company stock valued at $29,126,596. 4.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HUBS. Wellington Management Group LLP lifted its position in HubSpot by 52.2% during the third quarter. Wellington Management Group LLP now owns 1,402,200 shares of the software maker’s stock worth $745,410,000 after buying an additional 480,796 shares in the last quarter. Geode Capital Management LLC grew its holdings in HubSpot by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 820,483 shares of the software maker’s stock valued at $435,184,000 after buying an additional 19,974 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of HubSpot by 17.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 571,274 shares of the software maker’s stock worth $303,689,000 after acquiring an additional 86,688 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of HubSpot by 8.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 527,061 shares of the software maker’s stock worth $280,186,000 after acquiring an additional 40,138 shares during the period. Finally, Holocene Advisors LP boosted its position in shares of HubSpot by 17.5% during the 3rd quarter. Holocene Advisors LP now owns 319,767 shares of the software maker’s stock valued at $169,988,000 after acquiring an additional 47,736 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

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.