HashiCorp, Inc. (NASDAQ:HCP – Get Free Report) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 7,980,000 shares, a growth of 5.3% from the June 30th total of 7,580,000 shares. Currently, 5.7% of the shares of the stock are short sold. Based on an average daily volume of 5,160,000 shares, the days-to-cover ratio is presently 1.5 days.
Wall Street Analysts Forecast Growth
HCP has been the topic of several recent analyst reports. Piper Sandler boosted their price objective on HashiCorp from $25.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Scotiabank restated a “sector perform” rating and issued a $35.00 price target (up previously from $31.00) on shares of HashiCorp in a research report on Thursday, April 25th. William Blair cut shares of HashiCorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 24th. Needham & Company LLC restated a “hold” rating on shares of HashiCorp in a report on Thursday, April 25th. Finally, BTIG Research downgraded HashiCorp from a “buy” rating to a “neutral” rating in a report on Wednesday, April 24th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $31.17.
Check Out Our Latest Stock Report on HCP
Insider Buying and Selling
Institutional Investors Weigh In On HashiCorp
Several hedge funds have recently modified their holdings of HCP. Comerica Bank boosted its holdings in HashiCorp by 2.1% in the 1st quarter. Comerica Bank now owns 18,432 shares of the company’s stock valued at $497,000 after purchasing an additional 374 shares during the period. Treasurer of the State of North Carolina lifted its stake in shares of HashiCorp by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 43,130 shares of the company’s stock valued at $1,020,000 after buying an additional 420 shares during the period. Advisors Asset Management Inc. grew its position in HashiCorp by 43.0% during the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after buying an additional 961 shares in the last quarter. American Capital Advisory LLC acquired a new position in HashiCorp in the 2nd quarter valued at approximately $40,000. Finally, Arizona State Retirement System lifted its position in shares of HashiCorp by 6.6% in the 4th quarter. Arizona State Retirement System now owns 28,111 shares of the company’s stock worth $665,000 after acquiring an additional 1,750 shares during the period. 87.83% of the stock is owned by institutional investors.
HashiCorp Stock Up 0.4 %
Shares of NASDAQ:HCP traded up $0.12 during trading on Wednesday, reaching $33.78. The stock had a trading volume of 1,909,778 shares, compared to its average volume of 3,558,864. The stock has a fifty day simple moving average of $33.57 and a two-hundred day simple moving average of $28.97. HashiCorp has a 52 week low of $18.91 and a 52 week high of $34.05. The firm has a market capitalization of $6.79 billion, a price-to-earnings ratio of -35.17 and a beta of 1.25.
HashiCorp (NASDAQ:HCP – Get Free Report) last released its quarterly earnings results on Thursday, May 30th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.02. The company had revenue of $160.58 million during the quarter, compared to analysts’ expectations of $153.39 million. HashiCorp had a negative net margin of 31.13% and a negative return on equity of 14.27%. On average, analysts forecast that HashiCorp will post -0.8 EPS for the current 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.
Read More
- Five stocks we like better than HashiCorp
- Which Wall Street Analysts are the Most Accurate?
- Joby Aviation Stock: The Case for Upside Just Got Stronger
- Canada Bond Market Holiday: How to Invest and Trade
- Conviction Firms for Microsoft’s Double-Digit Stock Upside
- Stock Market Upgrades: What Are They?
- 5 Aggressive Growth Stocks for Long-Term Investors
Receive News & Ratings for HashiCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HashiCorp and related companies with MarketBeat.com's FREE daily email newsletter.