HashiCorp, Inc. (NASDAQ:HCP) Receives $30.77 Average Target Price from Brokerages

Shares of HashiCorp, Inc. (NASDAQ:HCP) have been given a consensus recommendation of “Hold” by the fourteen analysts that are presently covering the company, Marketbeat.com reports. Ten research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $30.77.

A number of equities research analysts have recently weighed in on HCP shares. Morgan Stanley upgraded HashiCorp from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $23.00 to $30.00 in a research note on Monday, February 26th. Bank of America upped their price target on shares of HashiCorp from $28.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. JMP Securities reiterated a “market outperform” rating and set a $38.00 price objective on shares of HashiCorp in a research note on Thursday, March 7th. Stifel Nicolaus upped their target price on HashiCorp from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, Truist Financial restated a “hold” rating and issued a $35.00 target price (up previously from $27.00) on shares of HashiCorp in a research note on Thursday, April 25th.

HashiCorp Price Performance

Shares of NASDAQ:HCP opened at $32.46 on Friday. The business has a 50 day simple moving average of $26.45 and a two-hundred day simple moving average of $23.62. HashiCorp has a 1 year low of $18.91 and a 1 year high of $36.39. The firm has a market capitalization of $6.48 billion, a PE ratio of -33.12 and a beta of 1.42.

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

Insiders Place Their Bets

In related news, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $23.02, for a total value of $826,510.08. Following the sale, the chief technology officer now directly owns 1,804,780 shares of the company’s stock, valued at $41,546,035.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $23.02, for a total transaction of $826,510.08. Following the completion of the sale, the chief technology officer now owns 1,804,780 shares of the company’s stock, valued at $41,546,035.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David Mcjannet sold 33,331 shares of HashiCorp stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $27.38, for a total transaction of $912,602.78. Following the transaction, the chief executive officer now owns 326,912 shares in the company, valued at approximately $8,950,850.56. The disclosure for this sale can be found here. Insiders have sold a total of 267,427 shares of company stock valued at $6,728,242 in the last quarter. 26.13% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On HashiCorp

Several institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC boosted its position in HashiCorp by 47.6% during the 3rd quarter. SG Americas Securities LLC now owns 39,928 shares of the company’s stock valued at $912,000 after purchasing an additional 12,884 shares during the period. Peregrine Capital Management LLC raised its stake in shares of HashiCorp by 3.5% in the 3rd quarter. Peregrine Capital Management LLC now owns 303,525 shares of the company’s stock worth $6,929,000 after buying an additional 10,322 shares in the last quarter. Xponance Inc. lifted its holdings in shares of HashiCorp by 6.7% in the third quarter. Xponance Inc. now owns 10,701 shares of the company’s stock valued at $244,000 after buying an additional 673 shares during the period. Bank of New York Mellon Corp boosted its stake in HashiCorp by 10.5% during the third quarter. Bank of New York Mellon Corp now owns 337,516 shares of the company’s stock valued at $7,705,000 after buying an additional 32,006 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in HashiCorp by 19.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,596 shares of the company’s stock worth $1,589,000 after acquiring an additional 11,278 shares during the period. 87.83% of the stock is currently owned by hedge funds and other institutional investors.

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.