HubSpot (NYSE:HUBS) Cut to “Neutral” at Piper Sandler

Piper Sandler lowered shares of HubSpot (NYSE:HUBS) from an overweight rating to a neutral rating in a research report report published on Thursday morning, Marketbeat Ratings reports. Piper Sandler currently has $640.00 price objective on the software maker’s stock, up from their prior price objective of $570.00.

Other equities research analysts have also issued reports about the company. Bank of America decreased their target price on HubSpot from $650.00 to $580.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Needham & Company LLC restated a “buy” rating and issued a $730.00 price objective on shares of HubSpot in a report on Monday, October 14th. Canaccord Genuity Group dropped their target price on shares of HubSpot from $700.00 to $600.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company cut their target price on shares of HubSpot from $650.00 to $625.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $700.00 price target on shares of HubSpot in a research report on Thursday, September 19th. Five research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, HubSpot presently has an average rating of “Moderate Buy” and a consensus target price of $666.26.

HubSpot Trading Up 1.9 %

NYSE HUBS opened at $656.56 on Thursday. HubSpot has a 12 month low of $413.07 and a 12 month high of $693.85. The company’s 50-day moving average price is $535.45 and its 200-day moving average price is $546.83. The stock has a market cap of $33.89 billion, a PE ratio of -2,431.70, a PEG ratio of 7,948.12 and a beta of 1.63.

HubSpot (NYSE:HUBS) last issued its earnings results on Wednesday, November 6th. The software maker reported $2.18 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $669.72 million for the quarter, compared to the consensus estimate of $646.97 million. During the same period in the prior year, the firm earned ($0.04) EPS. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year.

Insiders Place Their Bets

In other HubSpot news, CFO Kathryn Bueker sold 1,136 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $525.84, for a total transaction of $597,354.24. Following the sale, the chief financial officer now owns 41,259 shares of the company’s stock, valued at approximately $21,695,632.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Kathryn Bueker sold 1,136 shares of HubSpot stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $525.84, for a total transaction of $597,354.24. Following the completion of the sale, the chief financial officer now directly owns 41,259 shares in the company, valued at approximately $21,695,632.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Yamini Rangan sold 1,507 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $525.84, for a total transaction of $792,440.88. Following the sale, the chief executive officer now directly owns 62,668 shares in the company, valued at $32,953,341.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,937 shares of company stock valued at $3,194,673. 4.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HUBS. Price T Rowe Associates Inc. MD increased its holdings in HubSpot by 10.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,933,629 shares of the software maker’s stock worth $1,211,535,000 after buying an additional 176,336 shares during the period. Fred Alger Management LLC increased its stake in shares of HubSpot by 516.2% in the second quarter. Fred Alger Management LLC now owns 163,291 shares of the software maker’s stock worth $96,307,000 after acquiring an additional 136,793 shares during the period. International Assets Investment Management LLC raised its holdings 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 during the last quarter. Marshall Wace LLP lifted its position in HubSpot by 88.7% during 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 purchased a new stake in HubSpot in the second quarter valued at $44,234,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

HubSpot Company Profile

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.