HubSpot (NYSE:HUBS) Research Coverage Started at Bank of America

Research analysts at Bank of America initiated coverage on shares of HubSpot (NYSE:HUBS) in a report released on Thursday. The firm set a $600.00 price target on the software maker’s stock. Bank of America‘s price objective suggests a potential upside of 16.70% from the stock’s previous close.

Several other research firms also recently issued reports on HUBS. Needham & Company LLC increased their price objective on shares of HubSpot from $400.00 to $520.00 and gave the company a “buy” rating in a report on Friday, February 12th. Wells Fargo & Company raised shares of HubSpot from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $345.00 to $450.00 in a report on Tuesday, January 5th. Raymond James raised shares of HubSpot from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $365.00 to $725.00 in a report on Friday, February 12th. Mizuho raised shares of HubSpot from a “neutral” rating to a “buy” rating and increased their price objective for the company from $360.00 to $525.00 in a report on Friday, February 12th. Finally, Summit Insights reaffirmed a “buy” rating on shares of HubSpot in a report on Thursday, February 11th. One research analyst has rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $465.79.

NYSE HUBS traded up $29.16 during mid-day trading on Thursday, reaching $514.16. 20,088 shares of the stock were exchanged, compared to its average volume of 543,501. The business’s 50 day moving average is $478.91 and its 200-day moving average is $392.92. HubSpot has a 1 year low of $129.00 and a 1 year high of $547.47. The company has a market capitalization of $23.82 billion, a P/E ratio of -284.06 and a beta of 1.78. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.65 and a current ratio of 3.65.

HubSpot (NYSE:HUBS) last announced its quarterly earnings results on Thursday, February 11th. The software maker reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.42) by $0.82. The firm had revenue of $252.07 million for the quarter, compared to the consensus estimate of $236.36 million. HubSpot had a negative net margin of 9.78% and a negative return on equity of 4.76%. Equities analysts predict that HubSpot will post -1.36 earnings per share for the current fiscal year.

In related news, CTO Dharmesh Shah sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, February 16th. The shares were sold at an average price of $519.74, for a total transaction of $10,394,800.00. Following the completion of the sale, the chief technology officer now directly owns 1,563,490 shares in the company, valued at $812,608,292.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brian Halligan sold 8,500 shares of the firm’s stock in a transaction dated Tuesday, January 19th. The stock was sold at an average price of $386.35, for a total transaction of $3,283,975.00. Following the sale, the chief executive officer now owns 657,119 shares of the company’s stock, valued at $253,877,925.65. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,106 shares of company stock valued at $18,691,502. 8.30% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in shares of HubSpot in the 4th quarter valued at approximately $29,000. Sowell Financial Services LLC raised its stake in shares of HubSpot by 79.2% in the 4th quarter. Sowell Financial Services LLC now owns 86 shares of the software maker’s stock valued at $34,000 after acquiring an additional 38 shares during the period. Penserra Capital Management LLC purchased a new stake in shares of HubSpot in the 4th quarter valued at approximately $35,000. Bartlett & Co. LLC purchased a new stake in shares of HubSpot in the 4th quarter valued at approximately $40,000. Finally, Perigon Wealth Management LLC purchased a new stake in shares of HubSpot in the 4th quarter valued at approximately $48,000. 89.84% of the stock is currently owned by institutional investors and hedge funds.

About HubSpot

HubSpot, Inc 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, sales, service, and content management systems, as well as integrated applications, such as search engine optimization, blogging, website content management, messaging, chatbots, social media, marketing automation, email, predictive lead scoring, sales productivity, ticketing and helpdesk tools, customer NPS surveys, analytics, and reporting.

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