Canaccord Genuity Group Issues Positive Forecast for HubSpot (NYSE:HUBS) Stock Price

HubSpot (NYSE:HUBS) had its target price upped by Canaccord Genuity Group from $600.00 to $710.00 in a report published on Thursday morning,Benzinga reports. They currently have a buy rating on the software maker’s stock.

Several other equities analysts have also recently issued reports on the company. Royal Bank of Canada lifted their price objective on HubSpot from $700.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday. Barclays lowered their price objective on shares of HubSpot from $575.00 to $500.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. KeyCorp upgraded shares of HubSpot from an “underweight” rating to a “sector weight” rating and set a $460.00 target price for the company in a research report on Thursday, August 8th. Oppenheimer reiterated an “outperform” rating and issued a $625.00 price target on shares of HubSpot in a research report on Thursday, September 19th. Finally, BMO Capital Markets upped their target price on HubSpot from $570.00 to $690.00 and gave the company an “outperform” rating in a research note on Thursday. Five analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, HubSpot has a consensus rating of “Moderate Buy” and a consensus target price of $666.26.

HubSpot Stock Performance

HubSpot stock traded up $11.95 during midday trading on Thursday, reaching $656.56. The company’s stock had a trading volume of 947,094 shares, compared to its average volume of 380,530. HubSpot has a fifty-two week low of $413.07 and a fifty-two week high of $693.85. The firm has a market capitalization of $33.89 billion, a PE ratio of -2,431.70, a P/E/G ratio of 7,948.12 and a beta of 1.63. The stock’s 50 day simple moving average is $535.45 and its 200 day simple moving average is $546.83.

HubSpot (NYSE:HUBS) last issued its earnings results on Wednesday, November 6th. The software maker reported $2.18 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.27. HubSpot had a negative net margin of 0.56% and a negative return on equity of 1.22%. The company had revenue of $669.72 million for the quarter, compared to analyst estimates of $646.97 million. During the same period in the prior year, the business posted ($0.04) earnings per share. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year.

Insiders Place Their Bets

In related news, CFO Kathryn Bueker sold 1,804 shares of HubSpot stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $550.00, for a total value of $992,200.00. Following the transaction, the chief financial officer now owns 41,259 shares in the company, valued at approximately $22,692,450. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Yamini Rangan sold 1,507 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $525.84, for a total value of $792,440.88. Following the completion of the sale, the chief executive officer now owns 62,668 shares of the company’s stock, valued at $32,953,341.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kathryn Bueker sold 1,804 shares of the firm’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $550.00, for a total transaction of $992,200.00. Following the completion of the transaction, the chief financial officer now directly owns 41,259 shares in the company, valued at approximately $22,692,450. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,937 shares of company stock valued at $3,194,673 over the last quarter. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its holdings in shares of HubSpot by 10.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,933,629 shares of the software maker’s stock valued at $1,211,535,000 after buying an additional 176,336 shares during the period. Fred Alger Management LLC raised its stake in shares of HubSpot by 516.2% during the second quarter. Fred Alger Management LLC now owns 163,291 shares of the software maker’s stock valued at $96,307,000 after purchasing an additional 136,793 shares during the period. International Assets Investment Management LLC lifted its position in shares of HubSpot by 214,342.4% during the third quarter. International Assets Investment Management LLC now owns 126,521 shares of the software maker’s stock worth $672,590,000 after purchasing an additional 126,462 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of HubSpot by 88.7% in the second quarter. Marshall Wace LLP now owns 241,557 shares of the software maker’s stock valued at $142,468,000 after purchasing an additional 113,555 shares during the period. Finally, Dorsal Capital Management LP acquired a new stake in HubSpot during the 2nd quarter valued at $44,234,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

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.