HashiCorp, Inc. (NASDAQ:HCP) Receives Average Recommendation of “Hold” from Brokerages

Shares of HashiCorp, Inc. (NASDAQ:HCP) have earned an average recommendation of “Hold” from the fourteen brokerages that are covering the company, Marketbeat.com reports. Eleven equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $32.08.

A number of equities analysts have recently weighed in on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $35.00 price target on shares of HashiCorp in a research note on Friday, August 30th. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. StockNews.com initiated coverage on shares of HashiCorp in a research note on Monday. They set a “hold” rating for the company. Finally, Citigroup began coverage on HashiCorp in a research report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price target for the company.

Insiders Place Their Bets

In other news, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $33.64, for a total transaction of $1,207,810.56. Following the transaction, the chief technology officer now directly owns 1,520,000 shares in the company, valued at approximately $51,132,800. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other HashiCorp news, CMO Marc Holmes sold 13,782 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $33.81, for a total transaction of $465,969.42. Following the completion of the sale, the chief marketing officer now owns 8,754 shares of the company’s stock, valued at $295,972.74. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $33.64, for a total value of $1,207,810.56. Following the sale, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at $51,132,800. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 404,041 shares of company stock valued at $13,636,943. Insiders own 22.49% of the company’s stock.

Institutional Trading of HashiCorp

A number of institutional investors have recently modified their holdings of the company. American Capital Advisory LLC acquired a new position in HashiCorp during the second quarter valued at approximately $40,000. Advisors Asset Management Inc. raised its stake in shares of HashiCorp by 43.0% in the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after acquiring an additional 961 shares during the period. Covestor Ltd lifted its holdings in shares of HashiCorp by 12,888.9% during the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock valued at $95,000 after acquiring an additional 3,480 shares in the last quarter. Quest Partners LLC boosted its position in HashiCorp by 9,736.1% during the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock worth $119,000 after purchasing an additional 3,505 shares during the period. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in HashiCorp in the 2nd quarter valued at $208,000. Hedge funds and other institutional investors own 87.83% of the company’s stock.

HashiCorp Trading Up 0.1 %

NASDAQ:HCP opened at $33.90 on Wednesday. HashiCorp has a 12-month low of $18.91 and a 12-month high of $34.06. The stock’s 50 day simple moving average is $33.77 and its 200-day simple moving average is $31.96. The firm has a market cap of $6.82 billion, a P/E ratio of -35.31 and a beta of 1.25.

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

HashiCorp Company Profile

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.