Royal Bank of Canada Raises HubSpot (NYSE:HUBS) Price Target to $750.00

HubSpot (NYSE:HUBS) had its price objective increased by Royal Bank of Canada from $700.00 to $750.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the software maker’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 16.20% from the stock’s previous close.

HUBS has been the subject of a number of other reports. KeyCorp raised shares of HubSpot from an “underweight” rating to a “sector weight” rating and set a $460.00 target price for the company in a report on Thursday, August 8th. UBS Group lifted their price objective on shares of HubSpot from $550.00 to $650.00 and gave the stock a “neutral” rating in a research note on Thursday. Truist Financial reaffirmed a “buy” rating and issued a $600.00 price target (down previously from $700.00) on shares of HubSpot in a report on Thursday, August 8th. Stifel Nicolaus upped their price objective on HubSpot from $600.00 to $625.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Wells Fargo & Company lifted their target price on HubSpot from $625.00 to $750.00 and gave the stock an “overweight” rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $638.88.

HubSpot Stock Up 8.0 %

HUBS stock traded up $47.66 during mid-day trading on Thursday, hitting $645.45. The company had a trading volume of 624,363 shares, compared to its average volume of 587,736. The company has a 50-day moving average price of $529.41 and a 200 day moving average price of $545.99. HubSpot has a 12-month low of $413.07 and a 12-month high of $693.85. The company has a market capitalization of $33.14 billion, a price-to-earnings ratio of -1,189.57, a P/E/G ratio of 7,506.16 and a beta of 1.63.

HubSpot (NYSE:HUBS) last announced its quarterly earnings results on Wednesday, August 7th. The software maker reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.30. HubSpot had a negative return on equity of 2.33% and a negative net margin of 1.15%. The company had revenue of $637.20 million during the quarter, compared to analyst estimates of $619.28 million. During the same period in the prior year, the company earned ($1.17) earnings per share. The firm’s revenue was up 20.4% on a year-over-year basis.

Insiders Place Their Bets

In related news, CFO Kathryn Bueker sold 1,136 shares of HubSpot stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $525.84, for a total value 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 $21,695,632.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other HubSpot news, CFO Kathryn Bueker sold 1,136 shares of HubSpot stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $525.84, for a total transaction of $597,354.24. Following the completion of the transaction, the chief financial officer now owns 41,259 shares in the company, valued at approximately $21,695,632.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Yamini Rangan sold 116 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $491.19, for a total transaction of $56,978.04. Following the sale, the chief executive officer now directly owns 67,203 shares in the company, valued at $33,009,441.57. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,937 shares of company stock worth $3,194,673 in the last ninety days. 4.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On HubSpot

Several institutional investors and hedge funds have recently modified their holdings of HUBS. Private Advisor Group LLC grew its stake in HubSpot by 5.6% in the 1st quarter. Private Advisor Group LLC now owns 1,296 shares of the software maker’s stock valued at $812,000 after acquiring an additional 69 shares during the period. Nordea Investment Management AB grew its position in shares of HubSpot by 24.8% in the first quarter. Nordea Investment Management AB now owns 3,859 shares of the software maker’s stock valued at $2,403,000 after purchasing an additional 768 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of HubSpot during the first quarter worth about $835,000. Csenge Advisory Group acquired a new position in shares of HubSpot during the 1st quarter worth about $219,000. Finally, Geneos Wealth Management Inc. raised its position 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 purchasing an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

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.