Canaccord Genuity Group Cuts HubSpot (NYSE:HUBS) Price Target to $600.00

HubSpot (NYSE:HUBS) had its price objective lowered by Canaccord Genuity Group from $700.00 to $600.00 in a report released on Thursday, Benzinga reports. The firm currently has a buy rating on the software maker’s stock.

HUBS has been the subject of a number of other research reports. Mizuho cut their price target on HubSpot from $700.00 to $650.00 and set a buy rating for the company in a research note on Thursday, May 9th. BMO Capital Markets reduced their price target on shares of HubSpot from $710.00 to $635.00 and set an outperform rating for the company in a research report on Thursday, May 9th. Stifel Nicolaus dropped their target price on shares of HubSpot from $700.00 to $600.00 and set a buy rating on the stock in a research note on Tuesday, July 30th. Piper Sandler decreased their price target on shares of HubSpot from $655.00 to $570.00 and set an overweight rating for the company in a research note on Friday, July 12th. Finally, Citigroup dropped their price objective on HubSpot from $798.00 to $767.00 and set a buy rating on the stock in a research note on Friday, May 10th. Five research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat, HubSpot currently has an average rating of Moderate Buy and an average price target of $610.52.

HubSpot Trading Down 0.8 %

Shares of NYSE HUBS traded down $3.74 during midday trading on Thursday, reaching $472.61. The stock had a trading volume of 600,231 shares, compared to its average volume of 654,662. The company’s 50 day moving average price is $536.09 and its 200 day moving average price is $590.11. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.07 and a current ratio of 2.07. HubSpot has a twelve month low of $407.23 and a twelve month high of $693.85. The firm has a market cap of $24.09 billion, a price-to-earnings ratio of -178.34 and a beta of 1.60.

HubSpot (NYSE:HUBS) last announced its quarterly earnings data on Wednesday, August 7th. The software maker reported $1.94 EPS for the quarter, topping the consensus estimate of $1.64 by $0.30. The company 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 5.78% and a negative return on equity of 4.94%. The company’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the firm posted ($1.17) EPS. As a group, sell-side analysts expect that HubSpot will post -0.44 EPS for the current year.

Insider Buying and Selling

In other HubSpot news, insider Dawson Alyssa Harvey sold 192 shares of the stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $650.00, for a total value of $124,800.00. Following the transaction, the insider now owns 10,860 shares of the company’s stock, valued at $7,059,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Dawson Alyssa Harvey sold 192 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $650.00, for a total transaction of $124,800.00. Following the completion of the sale, the insider now owns 10,860 shares of the company’s stock, valued at approximately $7,059,000. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kathryn Bueker sold 3,937 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $616.51, for a total value of $2,427,199.87. Following the completion of the transaction, the chief financial officer now directly owns 45,737 shares in the company, valued at $28,197,317.87. The disclosure for this sale can be found here. Insiders sold 46,875 shares of company stock valued at $26,879,025 over the last 90 days. Company insiders own 4.50% of the company’s stock.

Institutional Trading of HubSpot

Several hedge funds have recently made changes to their positions in the business. Riverview Trust Co purchased a new stake in shares of HubSpot in the first quarter valued at $27,000. Geneos Wealth Management Inc. lifted its stake in shares of HubSpot by 1,125.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 49 shares of the software maker’s stock worth $31,000 after acquiring an additional 45 shares during the last quarter. Rakuten Securities Inc. purchased a new position in HubSpot during the 4th quarter valued at $29,000. International Assets Investment Management LLC bought a new position in HubSpot in the 2nd quarter valued at $35,000. Finally, Larson Financial Group LLC increased its stake in HubSpot by 1,380.0% in the fourth quarter. Larson Financial Group LLC now owns 74 shares of the software maker’s stock worth $43,000 after purchasing an additional 69 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.