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

HashiCorp, Inc. (NASDAQ:HCP) has received a consensus rating of “Hold” from the fourteen ratings firms that are presently covering the stock, MarketBeat.com reports. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $32.08.

HCP has been the topic of several analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $35.00 target price on shares of HashiCorp in a research report on Friday, August 30th. Citigroup assumed coverage on shares of HashiCorp in a report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price objective on the stock. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Finally, StockNews.com assumed coverage on shares of HashiCorp in a research report on Monday, November 11th. They issued a “hold” rating for the company.

Insider Buying and Selling

In related news, CMO Marc Holmes sold 13,916 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $33.80, for a total value of $470,360.80. Following the sale, the chief marketing officer now directly owns 4,368 shares in the company, valued at $147,638.40. The trade was a 76.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Navam Welihinda sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $33.87, for a total transaction of $169,350.00. Following the sale, the chief financial officer now directly owns 88,322 shares of the company’s stock, valued at approximately $2,991,466.14. This represents a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 371,209 shares of company stock valued at $12,559,456 over the last quarter. Corporate insiders own 22.49% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Swiss National Bank increased its stake in HashiCorp by 11.8% in the 1st quarter. Swiss National Bank now owns 221,600 shares of the company’s stock worth $5,972,000 after purchasing an additional 23,400 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of HashiCorp during the first quarter valued at approximately $1,070,000. Bessemer Group Inc. purchased a new stake in shares of HashiCorp in the 1st quarter valued at approximately $649,000. Vanguard Group Inc. lifted its position in shares of HashiCorp by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock valued at $329,454,000 after acquiring an additional 1,501,953 shares in the last quarter. Finally, New York Life Investment Management LLC acquired a new position in HashiCorp in the 2nd quarter worth approximately $11,407,000. Institutional investors own 87.83% of the company’s stock.

HashiCorp Stock Down 0.5 %

Shares of NASDAQ:HCP opened at $33.74 on Thursday. The company has a market cap of $6.85 billion, a PE ratio of -44.99 and a beta of 1.24. HashiCorp has a fifty-two week low of $19.26 and a fifty-two week high of $34.21. The firm has a 50-day simple moving average of $33.88 and a 200 day simple moving average of $33.64.

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

About HashiCorp

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.