HubSpot (NYSE:HUBS) Given New $850.00 Price Target at Truist

HubSpot (NYSE:HUBS) had its price objective raised by Truist from $700.00 to $850.00 in a research note released on Wednesday morning, The Fly reports. Truist currently has a buy rating on the software maker’s stock.

Other equities analysts have also issued reports about the stock. Needham & Company LLC upped their price target on shares of HubSpot from $680.00 to $870.00 and gave the stock a buy rating in a research report on Wednesday. Jefferies Financial Group upped their price target on shares of HubSpot from $690.00 to $875.00 and gave the company a buy rating in a research note on Wednesday. Bank of America reaffirmed a buy rating and set a $577.95 price target (down previously from $630.00) on shares of HubSpot in a research note on Monday, July 26th. Piper Sandler increased their target price on shares of HubSpot from $675.00 to $830.00 and gave the company an overweight rating in a research note on Wednesday. Finally, Canaccord Genuity increased their target price on shares of HubSpot from $685.00 to $830.00 and gave the company a buy rating in a research note on Wednesday. Twenty-two research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Buy and a consensus price target of $763.48.

Shares of HUBS opened at $786.25 on Wednesday. HubSpot has a 1-year low of $283.87 and a 1-year high of $814.90. The firm has a market capitalization of $36.96 billion, a price-to-earnings ratio of -422.71 and a beta of 1.67. The firm’s 50-day moving average price is $682.63 and its 200-day moving average price is $586.89. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.46.

HubSpot (NYSE:HUBS) last issued its earnings results on Wednesday, August 4th. The software maker reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.11. HubSpot had a negative net margin of 7.98% and a negative return on equity of 7.35%. The business had revenue of $310.80 million during the quarter, compared to analysts’ expectations of $296.01 million. During the same period in the previous year, the company earned $0.30 earnings per share. The business’s revenue for the quarter was up 52.7% compared to the same quarter last year. On average, research analysts forecast that HubSpot will post -1.5 EPS for the current fiscal year.

In other news, CEO Brian Halligan sold 11,520 shares of the firm’s stock in a transaction dated Tuesday, July 20th. The stock was sold at an average price of $555.13, for a total value of $6,395,097.60. Following the transaction, the chief executive officer now directly owns 662,873 shares in the company, valued at approximately $367,980,688.49. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Dharmesh Shah sold 9,327 shares of the firm’s stock in a transaction dated Tuesday, October 5th. The shares were sold at an average price of $651.85, for a total value of $6,079,804.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,567 shares of company stock worth $21,130,215. Corporate insiders own 6.00% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in HUBS. HighTower Advisors LLC raised its stake in HubSpot by 11.5% during the 1st quarter. HighTower Advisors LLC now owns 1,076 shares of the software maker’s stock valued at $492,000 after acquiring an additional 111 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of HubSpot by 6.1% during the first quarter. Russell Investments Group Ltd. now owns 5,032 shares of the software maker’s stock worth $2,276,000 after purchasing an additional 290 shares during the period. Rockefeller Capital Management L.P. grew its holdings in shares of HubSpot by 102.6% during the first quarter. Rockefeller Capital Management L.P. now owns 233 shares of the software maker’s stock valued at $105,000 after buying an additional 118 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of HubSpot by 44.2% during the first quarter. Quadrant Capital Group LLC now owns 111 shares of the software maker’s stock valued at $50,000 after buying an additional 34 shares in the last quarter. Finally, Ensign Peak Advisors Inc grew its holdings in shares of HubSpot by 11.5% during the first quarter. Ensign Peak Advisors Inc now owns 20,866 shares of the software maker’s stock valued at $9,478,000 after buying an additional 2,156 shares in the last quarter. Institutional investors and hedge funds own 89.74% of the company’s stock.

About HubSpot

HubSpot, Inc develops Internet marketing software solutions. The firm operates through the following geographical segments: Americas, Europe and Asia Pacific. The company was founded by Brian Patrick Halligan and Dharmesh Shah on April 4, 2005 and is headquartered in Cambridge, MA.

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