HashiCorp (NASDAQ:HCP) PT Raised to $35.00

HashiCorp (NASDAQ:HCP) had its price target lifted by stock analysts at Piper Sandler from $25.00 to $35.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 7.39% from the stock’s current price.

Several other research firms have also issued reports on HCP. Bank of America raised their price objective on HashiCorp from $28.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday. Morgan Stanley raised HashiCorp from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $23.00 to $30.00 in a research note on Monday, February 26th. BTIG Research downgraded HashiCorp from a “buy” rating to a “neutral” rating in a report on Wednesday. TD Cowen increased their price target on HashiCorp from $23.00 to $26.00 and gave the stock a “market perform” rating in a report on Wednesday, March 6th. Finally, StockNews.com upgraded HashiCorp from a “sell” rating to a “hold” rating in a report on Monday, April 22nd. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, HashiCorp presently has a consensus rating of “Hold” and a consensus price target of $30.77.

HashiCorp Trading Down 0.7 %

Shares of HashiCorp stock opened at $32.59 on Thursday. The firm has a market cap of $6.50 billion, a PE ratio of -33.25 and a beta of 1.42. HashiCorp has a 12 month low of $18.91 and a 12 month high of $36.39. The stock has a 50 day moving average of $26.08 and a 200 day moving average of $23.44.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings data on Tuesday, March 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.06. The business had revenue of $155.78 million during the quarter, compared to analyst estimates of $149.47 million. HashiCorp had a negative return on equity of 15.58% and a negative net margin of 32.70%. As a group, equities research analysts forecast that HashiCorp will post -0.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other HashiCorp news, insider Ledger Susan St. sold 17,895 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $27.39, for a total transaction of $490,144.05. Following the transaction, the insider now directly owns 121,702 shares in the company, valued at approximately $3,333,417.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $21.82, for a total transaction of $783,425.28. Following the sale, the chief technology officer now owns 1,768,876 shares of the company’s stock, valued at approximately $38,596,874.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ledger Susan St. sold 17,895 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $27.39, for a total value of $490,144.05. Following the sale, the insider now directly owns 121,702 shares in the company, valued at approximately $3,333,417.78. The disclosure for this sale can be found here. Insiders have sold 267,427 shares of company stock worth $6,728,242 in the last ninety days. 26.13% of the stock is owned by company insiders.

Institutional Trading of HashiCorp

Several hedge funds and other institutional investors have recently bought and sold shares of HCP. Nomura Asset Management Co. Ltd. boosted its position in HashiCorp by 35.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,351 shares of the company’s stock valued at $54,000 after acquiring an additional 615 shares in the last quarter. Industry Ventures L.L.C. acquired a new position in HashiCorp during the 4th quarter valued at about $157,000. Victory Capital Management Inc. increased its position in HashiCorp by 35.5% during the 3rd quarter. Victory Capital Management Inc. now owns 10,576 shares of the company’s stock valued at $241,000 after buying an additional 2,768 shares in the last quarter. Xponance Inc. increased its position in HashiCorp by 6.7% during the 3rd quarter. Xponance Inc. now owns 10,701 shares of the company’s stock valued at $244,000 after buying an additional 673 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of HashiCorp by 10.0% during the third quarter. Principal Financial Group Inc. now owns 10,778 shares of the company’s stock worth $246,000 after acquiring an additional 978 shares during the last quarter. Institutional investors own 87.83% of the company’s stock.

HashiCorp Company Profile

HashiCorp, Inc engages in the provision of multi-cloud infrastructure automation solutions worldwide. The company offers infrastructure provisioning products, including Terraform, that enables IT operations teams to apply an Infrastructure-as-Code approach, where processes and configuration required to support applications are codified and automated instead of being manual and ticket-based; Packer, that provides a consistent way to define the process of transforming the raw source inputs into a production worthy artifact, across any environment or packaging format; and Vagrant, that allows teams to define how development environments are set up.