HubSpot’s (HUBS) “Buy” Rating Reaffirmed at Needham & Company LLC

HubSpot (NYSE:HUBS)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a note issued to investors on Thursday, Benzinga reports. They currently have a $730.00 target price on the software maker’s stock. Needham & Company LLC’s price target indicates a potential upside of 44.89% from the company’s previous close.

A number of other equities research analysts have also weighed in on the company. Evercore ISI dropped their price target on HubSpot from $650.00 to $550.00 and set an “in-line” rating on the stock in a research note on Thursday, August 8th. Stifel Nicolaus cut their price target on shares of HubSpot from $700.00 to $600.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $700.00 price target on shares of HubSpot in a report on Thursday, August 8th. Bank of America cut their price target on shares of HubSpot from $650.00 to $580.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Raymond James cut their price target on shares of HubSpot from $725.00 to $675.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $610.79.

HubSpot Stock Performance

Shares of HUBS stock opened at $503.84 on Thursday. HubSpot has a fifty-two week low of $407.23 and a fifty-two week high of $693.85. The firm has a market capitalization of $25.68 billion, a price-to-earnings ratio of -190.13, a PEG ratio of 3,140.82 and a beta of 1.63. The stock’s 50-day simple moving average is $487.98 and its 200-day simple moving average is $567.44.

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

Insider Activity

In other news, insider Dawson Alyssa Harvey sold 384 shares of the 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 transaction, the insider now owns 9,735 shares in the company, valued at approximately $4,548,484.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other HubSpot news, CEO Yamini Rangan sold 2,877 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $592.80, for a total value of $1,705,485.60. Following the transaction, the chief executive officer now owns 68,037 shares in the company, valued at approximately $40,332,333.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dawson Alyssa Harvey sold 384 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were 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 owns 9,735 shares in the company, valued at approximately $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 quarter. Corporate insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in HubSpot by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 4,790,390 shares of the software maker’s stock valued at $2,781,013,000 after purchasing an additional 119,999 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in HubSpot by 10.1% in the 4th quarter. Hsbc Holdings PLC now owns 22,402 shares of the software maker’s stock valued at $13,022,000 after purchasing an additional 2,057 shares in the last quarter. Stifel Financial Corp lifted its holdings in HubSpot by 15.1% in the 4th quarter. Stifel Financial Corp now owns 33,248 shares of the software maker’s stock valued at $19,302,000 after purchasing an additional 4,371 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in HubSpot by 74.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,646 shares of the software maker’s stock valued at $2,117,000 after purchasing an additional 1,560 shares in the last quarter. Finally, M&G Plc purchased a new position in HubSpot in the 1st quarter valued at $8,533,000. Hedge funds and other institutional investors 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.